Ashtasidhhi Industries Limited appointed Ramesh Nair as an Additional Director in the category of Non-Executive Independent Director with effect from October 12, 2026. The appointment is proposed for a term of five years, subject to shareholder approval at the ensuing General Meeting.

The decision was taken during the Board of Directors' meeting held on Monday, October 12, 2026. The Board confirmed that Mr. Nair satisfies the criteria of independence prescribed under the Companies Act, 2013 and SEBI Listing Regulations. He is not debarred from holding the office of Director by any order passed by SEBI or other authorities.

Director profile and experience

Mr. Nair holds a Bachelor of Commerce degree from the University of Calicut, Kerala, obtained in 1990. He brings over 30 years of professional expertise in the textile industry, having been associated with various companies in the sector since 1994. His background includes extensive experience in general management, legal affairs, and management-related matters. The company disclosed that Mr. Nair is not related to any other director of the company.

Committee reconstitution details

Following his appointment, the Board approved the reconstitution of key committees. Mr. Nair has been inducted as a member in the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The composition of these committees remains compliant with regulatory requirements.

The Board meeting commenced at 3:00 pm and concluded at 3:45 pm. The company, formerly known as Gujarat Investa Limited, operates in the textile sector, aligning with the new director's industry background.

Ashtasidhhi Industries Limited confirmed that M/s Umesh Ved & Associates, Practicing Company Secretaries, resigned from the role of Secretarial Auditor effective October 8, 2026. The resignation was communicated to the Board of Directors via a letter dated the same day.

The company filed this intimation with BSE Limited on October 9, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which governs disclosures regarding changes in statutory auditors and other key professionals.

Reasons for Departure

In the resignation letter, Umesh Ved stated that the decision was driven by pre-occupation with professional assignments and unavoidable professional commitments. The auditor explicitly confirmed that there were no disputes, differences, or pending issues between the firm and the company that led to the resignation. This clarification aligns with the company’s disclosure that there is no material reason for the change other than what was mentioned in the enclosed letter.

M/s Umesh Ved & Associates had been appointed as the Secretarial Auditor for the financial year spanning April 1, 2025, to March 31, 2030. The appointment was made under Section 204 of the Companies Act, 2013, and Regulation 24A of the SEBI Listing Regulations.

Next Steps for Governance

The Audit Committee and the Board of Directors of Ashtasidhhi Industries will consider the appointment of new Secretarial Auditors in due course. The company assured stakeholders that any subsequent appointments would be intimated in accordance with regulatory requirements.

Key Disclosure Details

The resignation marks a change in the compliance oversight structure for the Ahmedabad-based company, which was formerly known as Gujarat Investa Limited. The company’s registered office is located at 252, New Cloth Market, Opp. Raipur Gate, Ahmedabad.