EKI Energy Services has accepted the resignation of Mr. Mohit Kumar Agarwal from the positions of Chief Financial Officer and Whole Time Director, effective from the close of business hours on July 15, 2026. The Board of Directors also approved the appointment of Ms. Pooja Jorway as the new Chief Financial Officer and Whole Time Director for a period of five years, effective July 16, 2026, subject to the approval of the company's members.

The resignation of Mr. Mohit Kumar Agarwal was considered by the Board during its meeting held on Wednesday, July 15, 2026. The Board placed on record its appreciation for the valuable contributions made by Mr. Agarwal during his tenure. In his resignation letter dated July 15, 2026, Mr. Agarwal cited personal commitments as the reason for his departure and confirmed there were no other material reasons for the decision.

Following the recommendation of the Nomination and Remuneration Committee, the Board appointed Ms. Pooja Jorway (DIN: 11760766) to the vacant positions. Ms. Jorway brings over eight years of experience in business operations and executive management. She holds an MBA from the International Institute of Professional Studies, Devi Ahilya Vishwavidyalaya, Indore, and has been associated with the company for several years within the Managing Director's office.

Key Management Changes

The transition in leadership involves the following key details regarding the outgoing and incoming executives:

Ms. Jorway's profile indicates extensive exposure to the company's finance function, including budgeting, financial planning, fund flow, and treasury matters. Her previous roles at Systematix Infotech Pvt. Ltd. and Nenosystems Consulting Services Pvt. Ltd. have further strengthened her operational and stakeholder management capabilities. The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

EKI Energy Services received four adjudication orders dated June 29, 2026 from the Registrar of Companies (ROC) Gwalior, imposing monetary penalties totalling ₹15.64 lakh on the company and its officer in default for alleged non-compliance with the Companies Act, 2013. The penalties address lapses in corporate disclosures, including the omission of auditor qualifications in the Board's Report and delays in filing Investor Education and Protection Fund (IEPF) forms. The company stated that these orders have no material impact on its financial, operational, or other activities and is evaluating the cost effectiveness of pursuing legal remedies.

The orders were issued under Section 454 of the Companies Act, 2013. The first order, No. PO/ADJ/06-2026/GL/02447, penalised the company ₹3,00,000 and officer in default Mr. Manish Kumar Dabkara ₹50,000. The ROC observed that the Board's Report for FY 2022-23 failed to include explanations or comments on the qualifications, reservations, and emphasis of matter made by the Statutory Auditors as required under Section 134(3)(f).

A second order, No. PO/ADJ/06-2026/GL/02448, imposed a penalty of ₹3,00,000 on the company and ₹50,000 on Mr. Dabkara. This order cited the absence of explanations or comments in the Board's Report regarding remarks contained in the Secretarial Audit Report, specifically relating to a delay in filing e-Form IEPF-2. The violation pertains to Section 134(3)(f)(ii) read with Section 134(8) of the Companies Act.

The third order, No. PO/ADJ/06-2026/GL/02449, levied the highest penalty of ₹4,64,500 on the company and ₹97,900 on Mr. Dabkara. The ROC found that prescribed details required under Rule 5(8) of the IEPF Authority Rules were not attached with e-Form IEPF-2 for the relevant financial years. This non-compliance was under Section 125(2)(c) read with Rule 5(8) of the IEPF Authority Rules, attracting a penalty under Section 124(7) of the Companies Act, 2013.

The fourth order, No. PO/ADJ/06-2026/GL/02450, imposed a penalty of ₹5,00,000 on the company and ₹50,000 on Mr. Dabkara. The ROC observed that the same individual was appointed as Whole-time Director while continuing as Chief Financial Officer without appointing a separate Chief Financial Officer, constituting a violation of Section 203(1) punishable under Section 203(5) of the Companies Act, 2013.

Breakdown of Penalties