Dipna Pharmachem Limited has accepted the resignation of Mr. Parin Bhavsar from the position of Non-Executive and Independent Director, effective May 12, 2026. The resignation was submitted due to pre-occupancy, and the company confirmed there are no other material reasons for the decision beyond those stated in the resignation letter. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Bhavsar requested the board to treat his submission as formal consent to resign and to take necessary steps for filing forms with the Registrar of Companies (ROC) and updating the relevant stock exchange. The company acknowledged the receipt of the resignation and confirmed its acceptance.

Details of the Resignation

The following table outlines the key particulars regarding the change in directorship as per the regulatory filing:

Other Directorships

The filing also disclosed Mr. Bhavsar's involvement in other listed entities. He serves as an Independent Director at Chandrima Mercantiles Limited. Additionally, he holds memberships on key board committees at that entity, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee.

Dipna Pharmachem Limited has strengthened its corporate governance structure by appointing two new independent directors and reconstituting its key board committees. The Board of Directors approved the appointment of Mr. Jitendra Pradipbhai Parmar and Mr. Manish Shrichand Bachani as Additional Non-Executive and Independent Directors effective May 11, 2026. These appointments aim to enhance the oversight capabilities of the board as the company continues its operations in the pharmaceutical sector.

The appointments were ratified during a board meeting held on May 11, 2026, at the company's registered office in Ahmedabad. Mr. Jitendra Pradipbhai Parmar brings over eight years of experience in corporate laws and financial management as a Practicing Company Secretary. Mr. Manish Shrichand Bachani holds a Bachelor of Commerce degree and possesses expertise in marketing management, business operations, and project management. Neither appointee is related to any existing director of the company.

Consequent to these inductions, the Board approved the reconstitution of three critical committees to ensure compliance with regulatory frameworks. The Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee have all been restructured effective May 11, 2026. Mr. Jitendra Pradipbhai Parmar has been designated as the Chairperson of all three committees.

The composition of the reconstituted committees includes the new independent directors alongside Mrs. Dipna Keyur Shah, who serves as a Non-Executive Non-Independent Director. The changes were communicated to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Committee Composition

Note: This structure applies to the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.