Board approves CFO, internal auditor, MD designation change; borrowing limit up to Rs. 100 Crores

Board meeting held 7 October 2026 approved 11 items.

Wed 7 Oct 2026

Borrowing Limit Approved

not exceeding Rs. 100 Crores under Section 180(1)(c)

MD Designation Change Effective

w.e.f. 29 October 2026, subject to member approval

AGM Date

45th AGM on 30 October 2026 at 03:00 P.M. via VC/OAVM

What the Board approved

The Board of Directors met on Wednesday, 7th October 2026 and approved eleven items covering senior appointments, the annual report, the annual general meeting and fresh enabling limits for borrowing and lending.

• Mr. Shekhar Chandrakant More was appointed Chief Financial Officer with effect from 07 October 2026. The update describes him as an accounts executive with 15 years of practical experience in accounting and finance related activities, including day-to-day accounting, GST, TDS, petty cash management, office expense tracking, bank transactions and financial documentation.
• M/s. Goyal Nagpal & Co., Chartered Accountants, was appointed Internal Auditor of the company for financial year 2026-27, with effect from 07 October 2026.
• Ms. Deepika Awasthi's designation changes from Executive Director to Managing Director with effect from 29 October 2026, subject to the approval of members.
• Mr. Atul Chauhan was appointed Additional Director in the category of Non-Executive Independent Director with effect from 07 October 2026, for a term of 5 years, subject to approval of shareholders in the ensuing general meeting. He is an Associate Member of the Institute of Company Secretaries of India, a law graduate and a commerce graduate with over 15 years of experience in corporate laws, governance and regulatory compliance.
• M/s. Amit Saxena & Associates, Practicing Company Secretaries, was appointed Scrutinizer for the remote e-voting to be conducted for the coming AGM.

Annual report and AGM

The Board approved the Director's Report along with applicable annexures for the financial year ended 31st March 2026, and the notice of the 45th Annual General Meeting, scheduled to be held on Friday, 30th October 2026 at 03:00 P.M. through video conferencing or other audio-visual means.

Borrowing, charge and funding approvals

• Borrowing of funds under Section 180(1)(c) of the Companies Act, 2013, not exceeding Rs. 100 Crores, was approved.
• An increase in the limits under Section 180(1)(a) of the Companies Act, 2013, for creating a charge on the assets of the company, was approved.
• The Board approved the giving of loan or guarantee or providing security in connection with any loan availed by any person in whom any of the Directors of the company is interested, as specified under Section 185.
• The Board approved the giving of loans, providing guarantees, providing securities and making investments under Section 186.

How to read this

Appointments of a Chief Financial Officer and an Internal Auditor, and the change in designation of a director, are management and governance changes. The borrowing and charge related items set or raise the outer limits within which the company can borrow or secure its assets, and such resolutions are enabling in nature. The change in designation of Ms. Deepika Awasthi and the appointment of Mr. Atul Chauhan are stated to be subject to approval of members. The AGM notice, the Director's Report for the financial year ended 31st March 2026 and the Scrutinizer appointment relate to the company's annual meeting process.

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