Cupid Breweries and Distilleries Limited has announced significant board appointments following its meeting held on April 07, 2026. The company has strengthened its governance structure through the appointment of a new Independent Director and the designation of a Group Company Secretary, demonstrating its commitment to enhanced corporate governance.

Independent Director Appointment

The Board of Directors approved the appointment of Mr. Rohit Shetty (DIN: 07224494) as an Additional Director in the capacity of Independent Director, effective April 07, 2026. This appointment is subject to approval by the company's shareholders and was made upon recommendation of the Nomination and Remuneration Committee.

Mr. Shetty brings substantial expertise to the board as a qualified Chartered Accountant with over 15 years of experience in finance, taxation, audit, and advisory services. He has been in professional practice since 2008 and currently serves as a Partner with NS Shetty & Co., Chartered Accountants, while also leading his independent practice, RSS & Associates.

His professional background encompasses:

• Statutory and internal audits
• Tax planning and compliance
• Financial reporting and advisory services
• Financial management and regulatory compliance
• Risk assessment and governance frameworks

Group Company Secretary Designation

The board also approved the designation of Mr. Sachin Rawat as Group Company Secretary, effective April 07, 2026. This appointment comes in addition to his existing roles as Chief Financial Officer, Company Secretary and Compliance Officer.

The board recognized Mr. Rawat's significant contributions, leadership, and continued commitment toward strengthening the company's governance, compliance, and financial framework. This designation aims to further enhance corporate governance framework and coordination across group entities.

Board Meeting Details and Regulatory Compliance

The board meeting commenced at 09:10 p.m. (IST) and concluded at 09:34 p.m. (IST) on April 07, 2026. During the meeting, the Board of Directors reaffirmed their commitment to act in the company's best interests and emphasized their intent to take prompt decisions to capitalize on beneficial opportunities aligned with corporate governance principles.

The appointments comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has communicated these developments to BSE Limited and made the required disclosures in accordance with regulatory requirements. The information has been made available on the company's website at www.cupidalcobev.com .

Cupid breweries and distilleries Limited has announced the resignation of Independent Director Mr. Arpit Shah (DIN: 07499195), effective April 06, 2026. The company informed BSE Limited of this development on April 07, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details and Board Impact

Mr. Shah's departure will result in his cessation from multiple key positions within the company's governance structure. He will no longer serve as a member of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

Governance Concerns Cited

In his resignation letter dated April 06, 2026, Shah outlined specific concerns about the company's governance practices. He cited a lack of adequate internal controls and unaddressed deviations from established governance processes over several months. The director particularly emphasized issues with board meeting procedures, noting that most meetings were convened at short notice with agenda papers circulated only hours before scheduled meetings.

Specific Meeting Notice Issues

Shah provided detailed examples of inadequate meeting notice periods that impacted his ability to effectively review documents and ensure availability:

Executive Management Concerns

The resigning director expressed concerns about the functioning at the executive management level, describing it as increasingly unilateral with a monologue-driven decision-making environment. Shah stated this approach materially limited the ability of Independent Directors to contribute effectively and impacted the transparency and robustness expected in the company's governance framework.

Company Response and Compliance

The Board of Directors acknowledged Shah's valuable contributions and support during his tenure as Independent Director. The company stated it continues to maintain appropriate governance practices and processes in compliance with applicable laws. Shah confirmed in his resignation letter that apart from the stated reasons, there are no other material reasons for his resignation.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations, providing comprehensive information including the resignation letter and detailed reasons for the departure. This transparency ensures stakeholders are fully informed about the circumstances surrounding the independent director's resignation and its implications for the company's governance structure.