Bajaj Hindusthan Sugar Limited has moved to strengthen its board composition by recommending the appointment of two new directors, effective August 28, 2026. The Board of Directors, meeting on July 29, 2026, approved the induction of Nand Lal Kalra as an Independent Director and Sanoj Kumar Potdar as a Non-Executive, Nominee Director representing Punjab National Bank. These appointments aim to enhance governance oversight and align with the bank’s interests as a stakeholder. The resolutions require shareholder approval to be finalized.

The appointments were made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the SEBI Listing Regulations. The Board acted on the recommendation of the Nomination and Remuneration Committee during its meeting held from 11:00 A.M. to 11:30 A.M. on July 29, 2026. The company also complied with SEBI Circular No. HO/49/14/14(7)/2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the disclosure of director details.

Nand Lal Kalra brings extensive experience in public administration and corporate governance. Aged 76, he holds a Bachelor of Science from Kurukshetra University, a Master of Science from Panjab University, and a Bachelor of Laws from Jodhpur University. With over five decades of experience, including 36 years in the Indian Revenue Service and tenure as an Accountant Member of the Income Tax Appellate Tribunal, Kalra offers deep regulatory expertise. He previously served as Chairman of the Audit Committee of Akums Drugs and Pharmaceuticals Limited.

Sanoj Kumar Potdar joins as a representative of Punjab National Bank. Aged 51, he is currently Deputy General Manager with Punjab National Bank’s HO Treasury Division in Mumbai. Potdar holds 26 years of banking experience across International Banking, Corporate Credit, and Treasury Management, including three years at PNB International Limited in London. He is a Certified Associate of the Indian Institute of Bankers (CAIIB), holds NSE Academy Certification in Financial Markets, and is a qualified Financial Risk Manager (FRM) from GARP, USA.

Appointment Details

Both appointees have disclosed no relationships with existing directors. Neither is debarred from holding office under any SEBI order or other authority. The company confirmed compliance with BSE Circular No. LIST /COMP/1412018-19 and NSE Circular dated June 20, 2018. Shareholders will vote on these appointments at the upcoming general meeting.

Bajaj Hindusthan Sugar Limited clarified that it inadvertently failed to submit a required declaration regarding an unmodified audit opinion alongside its audited financial results for the financial year ended March 31, 2026. The company confirmed that its statutory auditors, Siddharth N. Jain & Co., issued an unmodified opinion on the financial statements for the period. The omission was procedural in nature and there was no intention to withhold material information from the National Stock Exchange of India Limited or stakeholders.

The company addressed the non-submission in response to a communication received on June 25, 2026, from NSE NEAPS. The specific requirement pertains to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bajaj Hindusthan Sugar stated that the failure to include the declaration was purely inadvertent.

A certification from the Chief Financial Officer, Sunil Kumar Ojha, confirmed the audit opinion status. The certification, dated May 29, 2026, verified that the company is eligible to furnish the declaration in terms of the specified regulation. The document was submitted to the Board of Directors of Bajaj Hindusthan Sugar.

The company requested the exchange to place the clarification on record. Bajaj Hindusthan Sugar reiterated its commitment to ensuring full compliance with all applicable regulatory requirements. The confirmation certificate from the CFO was attached to the correspondence sent to the exchange.