AGM approves board changes: MD re-appointed, two directors added, two tenures completing

Piyush Mutha re-appointed Managing Director, 3 years (01.04.2027–31.03.2030).

Fri 25 Sep 2026

Piyush Mutha re-appointed MD

3 years (01.04.2027–31.03.2030)

Muskaan Gupta appointed Director

Non-Executive Independent Director, 1 year (10.08.2026–10.08.2027)

Manish Jhanwar re-appointed Director

Non-Executive Independent Director, 5 years (03.05.2027–02.05.2032)

Chandrashekhar Sharma appointed Director

Executive Non-Independent Director, 1 year (27.08.2026–27.08.2027)

Tenure completions noted

Deepa Sudhir Mekal (31.03.2027); Manglore Maruthi Rao (28.10.2026)

What was approved

At the Annual General Meeting held on 25 September 2026, members approved four board changes and took note of two tenure completions.

Appointments and re-appointments

• Shri Piyush Mutha re-appointed as Managing Director for 3 (three) years, from 01.04.2027 to 31.03.2030. He has over 33 year experience in the cotton industry and business. He is the brother of Shri Praneet Mutha, Director of the Company.
• Ms. Muskaan Gupta appointed as Non-Executive Independent Director for 1 (one) year, from 10.08.2026 to 10.08.2027. Her background is in corporate governance, secretarial and regulatory compliance, corporate laws, board processes, risk management and stakeholder governance. No relationship with other directors.
• Shri Manish Jhanwar re-appointed as Non-Executive Independent Director for 5 (five) years, from 03.05.2027 to 02.05.2032. He has 15 Years of experience in statutory audit and investment banking, internal audit, tax audit and certification work.
• Shri Chandrashekhar Sharma appointed as Executive Non-Independent Director for 1 (one) year, from 27.08.2026 to 27.08.2027. He has expertise in commercial operations, procurement, purchase and planning of cotton.

Tenures completing

• Smt. Deepa Sudhir Mekal, Non-Executive Independent Director, completes her 2nd term of 5 (five) years with effect from the closure of business hours on 31 March 2027.
• Shri Manglore Maruthi Rao, Whole Time Executive Director, completes his tenure with effect from the closure of business hours on 28 October 2026.

The company confirmed that none of the named directors is debarred from holding the office of Director by any SEBI or other authority order.

How to read it

These are governance and board-composition changes rather than business or financial developments. Continuity at the top is retained with the Managing Director's re-appointment, while two exits are by completion of term, not resignation. New appointments bring compliance and cotton-procurement expertise to the board.

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