Daulat Securities Limited appointed Ajit Kochar as its new Managing Director, subject to shareholder ratification, during a board meeting held on October 1, 2026. This appointment follows the resignation of Jitendra Kochar from the same role at the company's 33rd Annual General Meeting on September 17, 2026.

The board also deliberated on strategies for the monetization and optimal utilization of the company's immovable properties. Discussions included options such as sale, development or redevelopment, joint development, and other commercially viable arrangements aimed at unlocking asset value and improving resource utilization.

Board Leadership Changes

In addition to the Managing Director change, the board welcomed Dinesh Agarwal as the new Chairman of the Audit Committee. The resignation of the previous MD was formally noted by the board, along with consequential administrative, regulatory, statutory, and financial matters arising from his departure.

Strategic Asset Review

The board identified property monetization as a crucial area for discussion. The objective is to enhance the efficiency of the company's capital allocation by converting illiquid real estate assets into liquid resources or higher-yielding investments. The specific mechanisms under consideration range from outright sales to joint development partnerships.

What the Numbers Show

While the filing does not disclose financial figures, the simultaneous change in top leadership and the strategic pivot toward asset monetization suggests a potential restructuring phase. The board's explicit focus on "unlocking value" from immovable properties indicates an intent to optimize the balance sheet composition, potentially shifting weight from fixed assets toward more liquid or operational investments.

Daulat Securities has scheduled a Board of Directors meeting for October 1, 2026, to formally note the resignation of Managing Director Jitendra Kochar and discuss strategic changes. The agenda also includes approving a change in the Audit Committee chairmanship and evaluating options for monetising the company's immovable properties.

The resignation of Mr. Kochar was previously announced during the company’s 33rd annual general meeting held on September 17, 2026. He resigned from the office of Managing Director effective September 17, 2026, but will continue as a Director. The upcoming board meeting will address all ancillary, consequential, administrative, regulatory, statutory, and financial matters arising from this transition.

Strategic Asset Monetisation

A key item on the October 1 agenda is the consideration of options for the monetisation and optimal utilisation of the company's immovable properties. The Board will evaluate strategies including sale, development or redevelopment, joint development, or other commercially viable arrangements. This move aims to unlock the value of such properties and improve the utilisation of the company's resources.

AGM Outcomes and Voting Results

The recent AGM concluded with shareholders approving the audited standalone financial statements for FY25. Additionally, two directors who retired by rotation, Ajit Kochar and Anamika Kochar, were reappointed. The consolidated scrutinizer’s report confirmed that all three ordinary resolutions passed with 81.43% of valid votes cast in favor.

Remote e-voting was conducted from September 14 to September 16, 2026, while e-voting at the meeting commenced at 11:00 am on September 17, 2026. The votes were unblocked at 11:44 am on the same day.

Meeting Proceedings and Attendance

Mr. Ajit Kochar, Chairman and Whole Time Director, chaired the AGM after confirming the requisite quorum. Mr. Dinesh Agarwal, Independent Director, conducted proceedings for agenda items where Mr. Kochar had a conflict of interest, including the adoption of financials and director reappointments.

The following directors attended the AGM:

• Jitendra Kochar, Managing Director
• Anamika Kochar, Whole Time Director
• Rohit Kumar Somany, Independent Director
• Dinesh Agarwal, Independent Director
• Prateek Bhansali, Independent Director

Surya Prakash Lunia, Chief Financial Officer, and Eenasri Mitra, Company Secretary, also attended. P.D. Randar & Co. Chartered Accountants served as statutory auditors.