Acknit Industries has appointed Tushar Jhunhunwala and Amitava Mazumder as Non-Executive Independent Directors effective July 14, 2026. The Board of Directors also approved the re-appointment of Shankar Lal Bajaj for a second term of five years starting September 25, 2026. These changes are subject to the approval of shareholders at the ensuing General Meeting.

The appointments follow recommendations by the Nomination and Remuneration Committee. The company confirmed that the directors are not debarred from holding the office of Director by virtue of any SEBI order or any other authority, in compliance with circular no. LIST/COMP/14/2018-19 issued by BSE Limited.

Director Profiles and Tenures

The new appointees bring significant experience in finance, logistics, and industrial operations. The table below details the tenure and background of the three directors.

Tushar Jhunhunwala holds a Bachelor of Science in Engineering (Industrial and Operations) from the University of Michigan – Ann Arbor, USA. Amitava Mazumder holds a Bachelor of Science degree. Shankar Lal Bajaj, an undergraduate, previously served with M/S Ganges Printing Co Ltd.

Shareholder Approval and Compliance

The appointments of Jhunhunwala and Mazumder are for five consecutive years, while Bajaj's re-appointment covers his second term following the expiration of his first term on September 24, 2026. None of the directors are related to any existing members of the Board. The company has filed the necessary disclosures with BSE Ltd and The Calcutta Stock Exchange Ltd under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri Krishan Saraf & Sons HUF, a promoter group entity, increased its shareholding in acknit industries to 6.54% through the acquisition of 61,000 equity shares on June 8, 2026. The transaction was executed via an inter-se transfer, as disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, the promoter entity held 137,797 shares, representing 4.53% of the total voting capital. The purchase of 61,000 shares, accounting for 2.01% of the capital, raised the total holding to 198,797 shares. The equity share capital of Acknit Industries Limited remains at 30,40,000 equity shares of ₹10 each.

The disclosure was submitted to the Bombay Stock Exchange and the Calcutta Stock Exchange. The company's total diluted share capital remains unchanged at 30,40,000 equity shares following the transaction. The acquirer, Shri Krishan Saraf, signed the disclosure in his capacity as Karta of the HUF.

Shareholding Details

The transaction does not involve any encumbrance or convertible securities. The acquisition was solely in the form of shares carrying voting rights.