Bharat Wire Ropes Limited has announced the resignation of its Whole Time Director Mr. Venkateswararao Laxmanamurty kandikuppa, effective from the closing of business hours on March 31st, 2026. The resignation was submitted due to personal reasons and other commitments, marking a significant change in the company's leadership structure.

Regulatory Compliance and Disclosure

The company has fulfilled its regulatory obligations by informing both the National Stock Exchange of India Limited and BSE Limited about this development. The intimation was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full compliance with disclosure requirements.

Resignation Details and Documentation

Mr. kandikuppa submitted his formal resignation letter on March 31st, 2026, addressed to the Board of Directors of Bharat Wire Ropes Limited. In his resignation letter, he expressed gratitude for the opportunities provided during his tenure and acknowledged the valuable experience gained while serving as Whole Time Director.

The departing director confirmed that there are no material reasons for his resignation beyond the personal reasons and other commitments mentioned in his formal communication. He specifically thanked his fellow Board members for their support and cooperation throughout his tenure with the company.

Company Secretary's Role in Transition

Govinda Soni, serving as Company Secretary and Compliance Officer (Membership No.: F12937), has overseen the proper documentation and regulatory filings related to this resignation. The company has ensured that all requisite forms and disclosures are being processed in accordance with applicable regulations and SEBI circulars.

Regulatory Framework Compliance

The resignation process follows the guidelines outlined in multiple SEBI circulars, including SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11th, 2024, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30th, 2026. These regulations ensure proper disclosure and transparency in corporate governance matters.

The company has committed to making all necessary statutory filings with the Registrar of Companies and updating relevant particulars under the company's registrations. Additionally, appropriate disclosures will be made on the company's website as required by regulatory guidelines.

Bharat Wire Ropes Limited has announced the appointment of M/s. Borkar & Muzumdar, Chartered Accountants as its new statutory auditor following a board meeting held on March 7, 2026. The appointment addresses a casual vacancy created by the resignation of the company's previous statutory auditor.

Board Meeting Details

The board of directors convened on Saturday, March 7, 2026, with the meeting commencing at 11:15 A.M. and concluding at 11:45 A.M. Based on the recommendation of the Audit Committee, the board considered and approved the appointment of M/s. Borkar & Muzumdar, Chartered Accountants (FRN: 101569W) as the statutory auditors.

Auditor Profile and Experience

Borkar & Muzumdar is a reputed chartered accountancy firm with over 75 years of experience in the industry. The firm offers a comprehensive range of specialized services including:

• Assurance services
• Taxation consultancy
• Financial advisory services
• Risk-based internal audits
• Internal Financial Control Reviews
• Investigation assignments
• Due diligence reporting
• Tax structuring
• Data verification assignments

The firm operates with 19 partners and is supported by a team of over 230 staff members, comprising qualified Chartered Accountants, experienced associates, trainees, and support personnel. Their extensive client portfolio includes statutory central auditor roles for several public and private sector banks, other private and public sector undertakings, NBFCs, and insurance companies.

Regulatory Compliance

The appointment has been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also complied with SEBI circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Shareholder Approval Required

The appointment is subject to approval by shareholders at the ensuing General Meeting. This procedural requirement ensures that the company maintains proper corporate governance standards and provides shareholders with the opportunity to ratify the board's decision regarding the statutory auditor appointment.