Board Composition Shifts: New Director Appointed, Key Committees Restructured

The company has appointed Ms. Reema Magotra as Additional Non-Executive and Independent Director, effective March 25, 2026. This appointment follows the resignation of Ms. Promila Sharma from her position as Non-Executive and Independent Director, citing personal reasons.

In conjunction with these changes, the company has restructured its key board committees. The Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee have all been reorganized with updated member and chairperson assignments.

These board-level shifts are significant for corporate governance. Independent directors are essential for providing objective oversight and protecting shareholder interests. The restructuring of committees like Audit, Nomination & Remuneration, and Risk Management highlights a renewed emphasis on these critical oversight functions, which can improve accountability and strategic decision-making.

Ms. Magotra's addition is expected to enhance the board's independence and diversity. While Ms. Sharma's departure may lead to some adjustments in responsibilities, the new committee leadership and member dynamics reflect a proactive approach to strengthening board effectiveness. Ensuring continued, robust independent oversight will be a priority as these changes are implemented.