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.

Cupid Breweries and Distilleries has officially informed BSE Limited about the resignation of Mr. Sajid Bijnori as Independent Director, effective April 07, 2026. The announcement was made through a regulatory filing in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Mr. Sajid Bijnori (DIN: 02666906) submitted his resignation from the Board of Directors due to governance-related concerns as outlined in his resignation letter. The Board of Directors acknowledged his valuable contributions during his tenure and extended best wishes for his future endeavors.

Committee Positions Affected

Following his resignation as Independent Director, Mr. Bijnori will also cease to hold the following positions:

• Chairman of Nomination and Remuneration Committee
• Member of Audit Committee
• Member of Stakeholders Relationship Committee

Governance Concerns Cited

In his resignation letter dated April 07, 2026, Mr. Bijnori outlined specific governance issues that led to his decision to step down:

Primary Concerns:

• Lack of adequate internal controls
• Deviations from established governance processes remaining unaddressed
• Unilateral functioning at executive management level
• Monologue-driven decision-making environment
• Persistent deviations from established procedures

Meeting Notice Issues

Mr. Bijnori specifically highlighted problems with meeting schedules, citing instances where meetings were called at very short notice:

According to his resignation letter, these short-notice meetings materially limited the ability of Independent Directors to contribute effectively and impacted the transparency and robustness expected in the company's governance framework.

Regulatory Compliance

The company confirmed that Mr. Bijnori holds no directorships in other listed entities and stated that there are no material reasons for his resignation other than those mentioned in the resignation letter. Cupid Breweries and Distilleries emphasized that it continues to maintain appropriate governance practices and processes in compliance with applicable laws.

The resignation letter and detailed regulatory disclosures have been submitted to BSE Limited as required under the listing regulations. The filing was digitally signed by CFO & Company Secretary Sachin Rawat on April 07, 2026.