Archies Limited has accepted the resignation of Faizan Rashid Bhat from his position as Non-Executive Independent Director on the Board, effective August 5, 2026. The company disclosed the change in directorship to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bhat’s departure is attributed to personal reasons and other professional commitments, with no indication of dispute or material irregularities.

The resignation was tendered via email dated August 5, 2026, and takes effect immediately at the closing of business hours on that date. In his resignation letter, Bhat expressed appreciation for the opportunity to serve on the Board and acknowledged the support received from management and the company secretarial team during his tenure. He explicitly confirmed that there are no other material reasons for his resignation beyond those stated.

Resignation Details

The following table outlines the key particulars of the resignation as filed with the stock exchanges:

Chiranjivi Ramuka, Company Secretary and Compliance Officer of Archies Limited, signed the intimation letter submitted to the exchanges. The filing confirms that Bhat does not hold any other directorships in listed entities nor any committee positions elsewhere.

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (LODR) Regulations, 2015, read with Para A of Part A of Schedule III. This regulation mandates timely disclosure of changes in board composition to ensure transparency for investors and regulators. The company has enclosed the original resignation letter with the exchange filings for record purposes.

Bhat’s resignation marks a reduction in the independent director count on the Board, which may require the company to appoint a successor to maintain compliance with SEBI norms regarding board composition. However, no immediate timeline for replacement was provided in the current filing. The Board will likely address this in its next scheduled meeting or through a subsequent announcement.

What This Means for Investors

While the loss of an independent director can raise questions about board stability, Bhat’s clean exit — with no cited conflicts or material disputes — suggests a routine transition driven by personal circumstances. Investors should monitor future announcements for the appointment of a new independent director to ensure continued adherence to corporate governance standards. The absence of other listed directorships for Bhat indicates his focus was primarily on Archies Limited during his tenure.

Archies Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mr. Varun Moolchandani as Executive Director for a period of five years effective June 24, 2026. The resolution requires shareholder consent as a Special Resolution under the Companies Act, 2013. The Board has approved the re-appointment based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee.

Mr. Varun Moolchandani will receive a basic salary of ₹2,07,700 per month, with the Board authorized to revise it up to a ceiling of ₹2,45,000 per month based on performance. He is also entitled to perquisites, restricted to an amount not exceeding 60% of basic salary, covering benefits such as housing, medical reimbursement, and leave travel concession. The remuneration is guaranteed as a minimum payment even in the event of absence or inadequacy of profits, subject to Schedule V of the Companies Act, 2013.

To facilitate the voting process, the Board has appointed M/s Dayal & Maur Company Secretaries as the scrutinizer. The company has engaged MUFG Intime India Private Limited to provide the remote e-voting facility. Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on June 24, 2026, are eligible to vote.

Key Dates and Voting Schedule

Mr. Varun Moolchandani holds 1,844,890 shares in the company as on March 31, 2026. He has 26 years of experience across business categories including Fragrance & Cosmetics and International Brand Tie-ups. He affirmed that he is not debarred from holding the office of director by virtue of any SEBI order or any other authority. The postal ballot notice is available on the company's website at www.archiesinvestors.in .