Ashima Limited has announced significant board changes involving the appointment of a new independent director and the reconstitution of key board committees. The company's Board of Directors approved these changes by circulation on May 1st, 2026, as disclosed in their regulatory filing under Regulation 30 of SEBI Listing Regulations.

Director Appointment

The company has appointed Mr. Malay Jayendra Dalal as Additional Director in the category of Non-Executive Independent Director effective May 1st, 2026, for a period of five years subject to shareholder approval. Mr. Dalal is not liable to retire by rotation. The company confirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other authority, and he is not disqualified under Section 164 of the Companies Act, 2013.

Director Profile

Mr. Malay Jayendra Dalal brings extensive professional experience to the board as a Fellow Chartered Accountant with over 35 years of experience. His professional background includes serving as a trusted professional to diverse organizations including banks, multinational corporations, listed entities, Government corporations and real estate firms in the capacity of Auditor, Tax Consultant and other advisory roles. He has been actively engaged in outsourcing activities, both domestic and international, across various geographies for the past 25 years. The company disclosed that Mr. Dalal is not related to any other Director of the Company.

Committee Reconstitution

Following the appointment of Mr. Dalal, the company has reconstituted its Audit Committee, Stakeholders' Relationship Committee, and Sub-Committee to maintain compliance with the requirements of the Companies Act, 2013 and SEBI Listing Regulations.

Audit Committee

Stakeholders' Relationship Committee

Sub-Committee

Regulatory Compliance

The board changes were communicated to both BSE Limited and National Stock Exchange of India Ltd under the company's security codes 514286 and ASHIMASYN respectively. The filing was made on May 1st, 2026, under SEBI Regulation 30, with Shah Harshil Ketanbhai serving as Company Secretary and Compliance Officer.

Ashima Limited has formally notified stock exchanges that it does not qualify as a Large Corporate Entity under the Securities and Exchange Board of India (SEBI) regulatory framework. The company submitted its disclosure to both BSE and NSE on April 29, 2026, confirming its non-applicability status under the relevant SEBI circular.

Regulatory Compliance Disclosure

The disclosure was made in reference to SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, which mandates initial disclosures by companies identified as Large Corporate entities. The company also referenced corresponding circulars from BSE (LIST/COMP/05/2019-20 dated April 11, 2019) and NSE (NSE/CML/2019/10 dated April 01, 2019) regarding the same framework.

Financial Position Details

As part of the mandatory disclosure format, Ashima Limited provided key financial information to demonstrate its non-qualification status:

SEBI Large Corporate Framework

The SEBI Large Corporate Entity framework requires companies meeting specific criteria to comply with additional disclosure and borrowing requirements. Companies with substantial borrowings above prescribed thresholds are classified as Large Corporate entities and must adhere to enhanced regulatory compliance measures.

Company Information

Ashima Limited, incorporated in 1982, operates from its registered office in Ahmedabad, Gujarat. The company is listed on both BSE (Security Code: 514286) and NSE (Security Code: ASHIMASYN). The disclosure was signed by Harshil Shah, Company Secretary and Compliance Officer, ensuring proper regulatory compliance and transparency with stakeholders.