Asian Star Company Limited has informed the stock exchanges of a change in directorship at its wholly owned foreign subsidiary, Asian Star FZCO, incorporated in Dubai, United Arab Emirates. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with applicable SEBI Circulars.

Director Resignation at Asian Star FZCO

Mr. Nareshkumar Ramanlal Darji stepped down from his position as Director of Asian Star FZCO with effect from May 14, 2026. The resignation was submitted to align the governance and compliance structure of the subsidiary with applicable UAE Anti-Money Laundering (AML) compliance requirements and to avoid potential conflict of interest concerns. Notably, Mr. Darji continues in his capacity as Compliance Officer of the subsidiary following the resignation from the directorial role.

The key details of the directorship change, as disclosed under Regulation 30, are as follows:

Compliance-Driven Governance Restructuring

The resignation reflects a compliance-driven restructuring at the Dubai-based subsidiary. As per UAE AML guidelines, a Compliance Officer is not permitted to simultaneously serve as a Director of the company. By relinquishing the directorial position, Mr. Darji ensures that the subsidiary's governance structure remains aligned with the applicable regulatory framework in the UAE. No new director has been appointed in place of Mr. Darji at this time.

Asian Star FZCO is located at 29-D, Almas Tower, JLT, Dubai, United Arab Emirates. The parent company, Asian Star Company Limited, made this disclosure to BSE Limited on May 15, 2026, in compliance with its obligations under SEBI listing regulations.

Asian Star Company Limited has provided official clarification to BSE Limited regarding the delayed disclosure of its Vice President Operations resignation. The company submitted a revised disclosure on April 09, 2026, explaining the circumstances that led to the delay in reporting Mr. Ranajit K. Pattanaik's cessation under SEBI regulations.

Resignation Details and Impact Assessment

The regulatory filing provides comprehensive details about the senior management personnel change and its impact on company operations:

Explanation for Disclosure Delay

Asian Star Company Limited addressed the delay in its April 09, 2026 communication to BSE's Corporate Relationship Department. The company explained that Mr. Ranajit Pattanaik tendered his resignation on March 31, 2026, creating a challenging situation for management.

The delay occurred because accepting a senior management resignation at such short notice required the company's management to discuss the possibility of continuation before making a final decision. The resignation was formally accepted on April 06, 2026, after internal deliberations.

Regulatory Compliance Process

Following the acceptance of resignation, the company completed required internal processes to ensure information accuracy under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The initial disclosure was made on April 07, 2026, with the clarification following on April 09, 2026.

Management Commitment

CEO & Managing Director Vipul P. Shah (DIN: 00004746) digitally signed the clarification document, emphasizing that the delay was unintentional. The company expressed regret for the delayed disclosure and assured BSE of its commitment to comply with all applicable regulatory requirements in a timely manner going forward.

The filing was made under scrip code 531847 and scrip ID ASTAR, in compliance with SEBI Master Circular requirements and Schedule III provisions for senior management personnel changes.