Ashapura Minechem Limited has appointed Manan Shah as an Additional Director and designated him as Whole Time Director – Business Development. The appointment is effective from October 1, 2026, for a period of five years, subject to the approval of the company's members.

The Board of Directors approved this appointment on September 29, 2026, following the recommendation of the Nomination and Remuneration Committee. As a Whole Time Director, Shah will be recognized as Key Managerial Personnel under Section 203 of the Companies Act, 2013. He is also authorized to determine the materiality of events and make disclosures to stock exchanges alongside the Company Secretary.

Profile and experience

Manan Shah brings over a decade of experience in the minerals, specialty materials, refractories, advanced ceramics, and oil & gas sectors. He has been associated with the Ashapura Group for more than ten years and currently oversees operations across four major business verticals in India:

• Bentonite & Allied Minerals
• White Performance Materials
• Specialty Adsorbent Solutions
• Advanced Ceramic Materials

Prior to this role, he served as Managing Director at Orient Ceratech Limited, an associate company of Ashapura. His tenure has focused on driving business growth, diversification, and operational excellence through strategic leadership.

Corporate governance and relationships

Shah is the son of Chetan Shah, the promoter of Ashapura Minechem, and the brother of Himani Shah, a director of the company. The filing confirms that except for these familial relationships, he is not related to any other director and has not been debarred from holding office by SEBI or any other authority.

The board meeting commenced at 6:30 pm and concluded at 7:30 pm on September 29, 2026. The company disclosed these details in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ashapura Minechem Limited has received an order from the Geology and Mining Department requiring payment of ₹6,13,173. The directive was issued under Rule 22 of the Gujarat Minerals (Prevention of Illegal Mining, Transportation and Storage) Rules, 2017.

The company disclosed this development in a filing to stock exchanges on September 23, 2026. The order, dated September 22, 2026, cites alleged violations of the specified mineral rules. Ashapura Minechem stated that it is contemplating appropriate escalation with the Appellate Authority regarding the penalty.

Financial impact assessment

The company indicated that it does not expect any material operational or financial impact emanating from this event, aside from the monetary penalty itself. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The penalty stems from allegations related to illegal mining, transportation, or storage activities as defined by the Gujarat state regulations. The company’s response focuses on legal recourse through the appellate process rather than immediate payment acceptance.