Choice International has accepted the cessation of Mr. Kanhaiya Lal Berwal as a Non-Executive Independent Director effective from the close of business hours on July 13, 2026. This change follows the completion of his second consecutive term of five years on the Board. The company disclosed this development in a filing submitted to the stock exchanges on July 14, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

With the conclusion of his tenure, Mr. Berwal has ceased to be a member of key Board committees. He stepped down from the position of Chairman of the Corporate Social Responsibility (CSR) Committee. Additionally, he vacated his role as a Member of the Nomination and Remuneration (NRC) Committee.

The Board of Directors and the Management of Choice International Limited acknowledged the contributions made by Mr. Berwal during his association with the company. The disclosure was made in compliance with SEBI Circular Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The cessation was attributed to the completion of his second tenure as a Non-Executive Independent Director. The requisite disclosures regarding the change were enclosed as Annexure-A to the regulatory filing.

Choice International Limited and its wholly owned subsidiary, Choice AMC Private Limited (CAPL), have received approval from the Securities and Exchange Board of India (SEBI) to sponsor and manage Wealthwave Capital Trust, a Category II Alternate Investment Fund (AIF). This regulatory approval enables the company to expand its investment offerings and strengthen its capabilities in the alternative investment space, marking a significant step in its vision to build a comprehensive financial services ecosystem.

The approval was conveyed via a letter or No Objection Certificate (NOC) from SEBI. It authorizes Choice International to act as the sponsor of Wealthwave Capital Trust. Simultaneously, Choice AMC Private Limited is authorized to act as the Investment Manager to the fund. The specific authorization for the subsidiary is in accordance with Regulation 21(b) of the SEBI (Mutual Funds) Regulations, 2026.

Wealthwave Capital Trust is registered as a Category II AIF with SEBI under Registration No. IN/AIF2/24-25/1736. The operations will commence once Choice AMC Private Limited fulfills the conditions stipulated in the NOC. The business will be conducted in accordance with the SEBI (Alternative Investment Funds) Regulations 2012, the SEBI (Mutual Funds) Regulations, 2026, and other applicable laws.

Key Details of the Approval

The company stated that this milestone reflects its commitment to delivering innovative financial solutions and creating sustainable, long-term value for its stakeholders. The filing was submitted to the BSE Limited and NSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.