Emergent Industrial Solutions Limited announced that Rakesh Suri ceased to be a Non-Executive and Independent Director effective close of business hours on September 30, 2026. His departure follows the completion of his second term on the board.

The company filed the intimation under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory disclosure marks the formal end of Suri’s directorship following the expiry of his appointed period.

Cessation details

The Board of Directors and Management expressed appreciation for the contribution, guidance, and services rendered by Suri during his tenure. The cessation was not due to resignation or removal but strictly resulted from the expiration of his second term.

Regulatory compliance

The disclosure adheres to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024. Since the exit was due to tenure completion, no resignation letter or detailed reasons for resignation were required.

The filing confirmed that there are no other material reasons for the cessation beyond the completion of the second term. Details regarding other listed entities where the director holds positions were marked as Not Applicable in this specific context.

Emergent Industrial Solutions Limited held its 43rd Annual General Meeting on September 30, 2026, in New Delhi. The meeting focused on the adoption of financial statements for FY26 and significant governance changes, including the appointment of new directors and the approval of substantial related party transactions.

Board appointments and reappointments

Shareholders approved the reappointment of Mrs. Shobha Sahni as a director under Regulation 17(1A) of SEBI (LODR) Regulations, 2015. Additionally, Mr. Vikash Rawal was appointed as Whole Time Director for a five-year term from September 1, 2026, to August 31, 2031. Mr. Siddharth R. Amin was also appointed as an Independent Director for a similar five-year period.

Related party transactions

A key focus of the special business agenda was the approval of related party transactions with entities linked to the Somani Group. These transactions are intended to be conducted at arm's length and in the ordinary course of business.

The aggregate approved value for related party transactions across these entities for the upcoming fiscal years totals ₹3,050 crore.

Financial statement adoption

Members adopted both standalone and consolidated financial statements for the year ended March 31, 2026. The auditors' report contained no qualifications or adverse remarks. Similarly, the secretarial audit report was clean, indicating compliance with statutory requirements.

Meeting proceedings

The meeting was chaired by Tarun Somani, Chairman and Director. Due to his interest in agenda items 7 through 9 regarding related party transactions, he entrusted the conduct of those specific items to Shobha Sahni, the disinterested director. Voting was conducted via poll, with results to be declared upon receipt of the scrutinizer's report. The meeting concluded at 11:05 am.