Eureka Industries Limited has concluded its board meeting held on April 13, 2026, with significant decisions regarding corporate restructuring and leadership changes. The company disclosed the meeting outcomes to BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015, marking a pivotal moment in its corporate journey.

PPIRP Approval and Resolution Plan

The board has formally approved the initiation of Pre-packaged Insolvency Resolution Process (PPIRP) under Chapter III-A of the Insolvency and Bankruptcy Code, 2016. This decision represents a structured approach to address the company's financial challenges through negotiated debt resolution.

The board reviewed and approved the Base Resolution Plan, including the Scheme of Arrangement, which will be presented to financial creditors for consideration. The company has received written consent from Mr. Bimal Ashok Desai, a registered Insolvency Professional, to serve as the Resolution Professional for the proceedings. The board has authorized directors and signatories to seek necessary approvals from financial creditors and represent the company in filing the requisite application before the National Company Law Tribunal (NCLT), Ahmedabad Bench.

Leadership Restructuring

Significant changes occurred in the company's leadership structure during the board meeting. Ms. Mamta (DIN: 10232506) resigned from her positions as Chief Financial Officer, Managing Director, and Key Managerial Personnel effective April 13, 2026, citing pre-occupation as the reason. Additionally, Mrs. Madhu Devi (DIN: 10267719) stepped down from her role as Independent Director on the same date, also due to pre-occupation.

Mr. Chaitanya Jayantilal Pandya has been appointed as Managing Director and CFO, bringing varied experience in financial planning, analysis, and administrative policy implementation. His appointment is subject to shareholder approval at the upcoming Extraordinary General Meeting.

Extraordinary General Meeting and Compliance

The board has scheduled an Extraordinary General Meeting (EGM) for May 18, 2026, to be conducted through Video Conferencing/Other Audio Visual Means. The meeting will seek shareholder approval for the new appointments and related matters.

The trading window closure remains in effect from April 1, 2026, until 48 hours after the declaration of audited financial results for the quarter and year ended March 31, 2026, in compliance with SEBI insider trading regulations.

Board Composition and Committee Restructuring

Following the resignations and new appointment, the board now comprises five directors maintaining compliance with regulatory requirements. The company has reconstituted all committees including Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee effective from April 13, 2026.

The Audit Committee is now chaired by Mr. Rakesh Kumar, while Ms. Avani Ashwinkumar Shah leads the Nomination and Remuneration Committee. Mr. Amitkumar Pradipbhai Sur chairs the Stakeholder Relationship Committee, ensuring continued governance oversight during the restructuring process.

Eureka Industries Limited has filed its mandatory quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was submitted to the Bombay Stock Exchange on April 13, 2026, ensuring adherence to regulatory requirements for dematerialization procedures.

Regulatory Compliance Details

The company confirmed that all equity share certificates received for dematerialization during Q4 FY26 were handled in accordance with SEBI regulations. The certificate validates that physical share certificates were properly mutilated and cancelled only after due verification, with the respective depository names substituted as registered owners for the dematerialized equity shares.

Registrar and Transfer Agent Confirmation

Bigshare Services Private Limited, serving as the company's Registrar and Transfer Agent, issued the compliance certificate dated March 31, 2026. The RTA confirmed that securities received from depository participants for dematerialization were properly processed and that all securities comprised in the certificates have been listed on the stock exchange where earlier issued securities are traded.

Corporate Information

Eureka Industries Limited operates under CIN L91110GJ1992PLC018524 with its registered office located in Ahmedabad, Gujarat. The certificate was signed by Ms. Mamta Prahlad Nishad, Managing Director and Chief Financial Officer, who holds DIN 10232506. The submission ensures the company maintains compliance with SEBI's depositories and participants regulations for the reporting quarter.