Eiko Lifesciences held its board meeting on August 24, 2026, to approve key governance changes and schedule its upcoming annual general meeting. The board noted the resignation of independent director Ms. Hasti Doshi and appointed Mr. Suraj Mahadev Gaikwad as an additional independent and non-executive director.

Ms. Doshi stepped down effective from the closing of business hours on August 24, 2026, citing other career commitments. Her term was originally scheduled to conclude on September 3, 2029. The board confirmed that she holds no other directorships in listed entities.

Board Composition Changes

Mr. Gaikwad was appointed as an additional director to hold office until the ensuing annual general meeting. Upon shareholder approval, he will serve as an independent director for a five-year term. He brings over seven years of experience in accountancy and business management.

The board also recommended the re-appointment of Mr. Bhavesh Dhirajlal Tanna as a director liable to retire by rotation. He has offered himself for re-appointment.

Annual General Meeting Details

The company scheduled its 49th annual general meeting for Tuesday, September 22, 2026, at 4:00 pm. The meeting will be conducted via video conferencing or other audio-visual means for the financial year 2025-26.

Mr. Shravan Gupta, a practicing company secretary, was appointed as the scrutinizer to oversee the e-voting process. M/s Bigshare Services Pvt Ltd. will serve as the service provider for conducting e-voting and video conferencing facilities.

The board meeting commenced at 4:00 pm and concluded at 4:30 pm on August 24, 2026.

Eiko Lifesciences has formally disputed recovery proceedings launched by IDBI Bank Limited regarding a historical corporate guarantee. The dispute centers on an alleged guarantee of ₹58 lakhs purportedly issued in 1986 by the company’s erstwhile entity, Narendra Investments (Delhi) Limited. The guarantee was linked to financial facilities extended to Consolidated Steels & Alloys Limited.

The matter relates to a transaction dating back nearly four decades. According to documents provided by IDBI Bank, the alleged guarantee remains outstanding, prompting the bank to initiate recovery actions against Eiko Lifesciences. The company has neither admitted nor acknowledged any liability in relation to this claim.

Legal Position and Management View

Eiko Lifesciences stated that it has taken appropriate legal steps and is actively pursuing all available remedies before the relevant authorities. The management maintains that based on the facts currently available and the legal position being pursued, the matter is not expected to have any material financial impact on the company or its ongoing business operations.

The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It indicated that it will continue to monitor the situation and make further disclosures as required by applicable laws and regulations.