India Corporate Governance MCA ROC Filings — October 29, 2026

Managing Director Akash Parmar now also holds the CFO role, concentrating executive and finance authority in one individual following the CFO's resignation

Independent director Harpalsingh Parmar resigned effective 30 October 2026, with the resignation letter attached but reasons not summarised in the filing text

Appointment of Rajshree Roy as Additional Non-Executive Independent Director partially offsets the independence loss, subject to shareholder confirmation at the next general meeting

Independent director exit with unstated reasons; the replacement is only an Additional Director pending shareholder ratification, leaving a temporary gap in independent oversight

CFO resignation effective 30 October 2026 coinciding with the same-day finance role consolidation under the MD raises questions about succession continuity in financial reporting

Filing defers the independent director's resignation reasons to an attached letter without summarising them, limiting investor visibility into the cause of the exit

Combined MD and CFO responsibilities in one individual increases key-person dependency and reduces segregation of duties in the finance function

Appointment of Ms. Rajshree Roy as independent director may broaden board expertise if her profile is confirmed at the next general meeting

The forthcoming general meeting where the Additional Director appointment is ratified provides a near-term event for investors to assess board composition

Padmanabh's MD assuming the CFO role is a pattern regulators and investors commonly scrutinise in smaller listed companies, where combined roles can weaken internal checks; watch whether other filings in the stream show similar consolidation

Shareholder vote to confirm Ms. Rajshree Roy as independent director; date not stated in this filing

Full text of Mr. Harpalsingh Parmar's resignation letter, attached to the filing, to clarify reasons for the independent director's exit

Revised committee composition following the board changes effective 30 October 2026, particularly audit and nomination committees where independence requirements apply

Any subsequent filings confirming CFO-level financial reporting and internal control arrangements after the 30 October 2026 transition