Board clears CFO, internal auditor, MD elevation, independent director; Rs. 100 crore borrowing limit

Mr. Shekhar Chandrakant More as Chief Financial Officer, w.e.f. 7 October 2026.

Wed 7 Oct 2026

CFO Appointed

Mr. Shekhar Chandrakant More as Chief Financial Officer, w.e.f. 7 October 2026

MD Designation Change

Ms. Deepika Awasthi from Executive Director to Managing Director, w.e.f. 29 October 2026

Borrowing Limit

Section 180(1)(c) up to Rs. 100 Crores

A board meeting of the company held on Wednesday, 7th October 2026 considered and approved a set of management and other matters. The meeting commenced at 03:00 P.M. and concluded at 03:45 P.M.

What the board approved

• Mr. Shekhar Chandrakant More (PAN: AXJPM9033D) has been appointed as Chief Financial Officer (CFO) of the Company with effect from October 07, 2026. His profile describes him as a dedicated Accounts Executive with 15 years of practical experience in accounting and finance-related activities, experienced in day-to-day accounting, GST, TDS, petty cash management, office expense tracking, bank transactions and financial documentation.

• M/s. Goyal Nagpal & Co., Chartered Accountants, has been appointed as an Internal Auditor of the Company for the financial year 2026-27, with effect from 07th October, 2026. The firm is described as a multi-dimensional professional services organisation with expertise across diverse industries, an experienced leadership team of partners and associate partners, supported by a panel of over 10 experts and professionals including Cost Accountants, Company Secretaries, ex-bankers, Forensic Auditors, Lawyers and GST Practitioners.

Leadership changes

• Ms. Deepika Awasthi (DIN: 08624842) will move from the position of Executive Director to Managing Director of the Company with effect from October 29, 2026, subject to the approval of members of the Company.

• Mr. Atul Chauhan (DIN: 03578401) has been appointed as an Additional Director in the category of Non-Executive Independent Director with effect from October 07, 2026, subject to the approval of members of the Company. The term of appointment is 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 (ICSI), a Law Graduate and a Commerce Graduate from the University of Lucknow, with over 15 years of experience in corporate laws, governance and regulatory compliance. He is the Proprietor of Atul Chauhan & Co. and a Partner at SRC & Co., Company Secretaries, and has advised over 500 companies and LLPs. The update states he has no relationship with the existing Director of the Company and is not debarred from holding the office of a director by virtue of any order of SEBI or any other such authority.

Funding and other approvals

• Increase in the limits under Section 180(1)(a) of the Companies Act, 2013, for creating a charge on the assets of the Company.

• Borrowing of funds pursuant to the provisions of Section 180(1)(c) of the Companies Act, 2013, not exceeding Rs. 100 Crores.

• 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 of the Companies Act, 2013.

• Giving of loans, providing guarantees, providing securities and making investments pursuant to Section 186 of the Companies Act, 2013.

• The Director's Report along with applicable annexure for the financial year ended 31st March, 2026.

AGM and related items

• The notice of the 45th Annual General Meeting (AGM) was approved, scheduled to be held on Friday, 30th October, 2026 at 03:00 P.M. through video conferencing (VC) or other audio-visual means (OAVM).

• M/s. Amit Saxena & Associates, Practicing Company Secretaries, has been appointed as Scrutinizer for the remote e-voting to be conducted for the ensuing Annual General Meeting.

How to read this

The announcement covers appointments to key positions, a change in designation of a director to Managing Director, and a new independent director, along with the appointment of an internal auditor and a scrutinizer. The update notes that the change in designation to Managing Director and the appointment of the Additional Director are subject to the approval of members of the Company, and that the Internal Auditor appointment is for the financial year 2026-27. The board also approved an increase in the limits for creating a charge on the Company's assets and borrowing of funds not exceeding Rs. 100 Crores under the stated provisions of the Companies Act, 2013.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.