Excelsoft Technologies has informed stock exchanges about the resignation of its Independent Director Mr. Doreswamy Palaniswamy, effective March 17, 2026. The resignation was announced in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Doreswamy Palaniswamy (DIN: 01251023) tendered his resignation from the position of Independent Director with effect from the close of business hours on March 17, 2026. The resignation is attributed to his decision to pursue a challenging executive position outside the organization, which will require his full focus, time, and commitment.

Committee Memberships Affected

Consequent to his resignation, Mr. Doreswamy Palaniswamy also ceases to be:

• Member of the Audit Committee
• Member of the Nomination & Remuneration Committee

The director had been serving as an Independent Director since January 07, 2025, and during his tenure, the Company achieved significant milestones, including its successful public issue and listing on NSE and BSE.

Board's Response

The Board of Directors of Excelsoft Technologies Limited has placed on record their appreciation for the valuable contribution and guidance provided by Mr. Doreswamy Palaniswamy during his association with the Company as an Independent Director. In his resignation letter, Mr. Palaniswamy expressed gratitude to the Board, management team, and colleagues for their continuous support and cooperation during his tenure.

Regulatory Compliance

The company has confirmed that Mr. Doreswamy Palaniswamy does not hold Directorships in any other listed entities and does not hold Membership in any Board Committees other than what he held in Excelsoft Technologies Limited prior to his resignation. The director has also confirmed that there are no other material reasons for his resignation apart from the stated reason.

Excelsoft Technologies Limited announced significant board changes following its Board of Directors meeting held on March 10, 2026. The company appointed Dr. Jayakumar Karuppasamy as Additional Director and restructured key board committees with immediate effect, as disclosed under Regulation 30 of SEBI Listing Regulations.

Board Appointment Details

The Board of Directors approved the appointment of Dr. Jayakumar Karuppasamy (DIN: 03615535) as Additional Director (Non-Executive Independent Director) based on the recommendation of the Nomination and Remuneration Committee. The appointment is effective from March 10, 2026, for a term of five years until March 09, 2031, subject to shareholder approval.

Professional Background and Achievements

Dr. Jayakumar Karuppasamy is a retired Indian Administrative Service (IAS) officer from the 1987 batch with distinguished expertise in technology, skill development, and governance. He holds a Ph.D. in Mechanical Engineering (Man-Machine Learning) from Indian Institute of Technology Kharagpur (2003) and a Master of Technology in Manufacturing Technology from the same institution (1994). He also completed a Post Graduate Diploma in Business Management with specialization in Marketing and Systems from Indian Institute of Management Bangalore (1985).

The new director has served in various senior positions including Additional Chief Secretary to the Government of Sikkim, Joint Secretary Council of Scientific and Industrial Research (CSIR), and Vice Chancellor of Sikkim Manipal University. He currently serves as Director of Jakaru Technologies Private Limited, focusing on manufacturing farm machinery and rural youth empowerment initiatives. Dr. Karuppasamy holds four Indian patents and four international patents, and was recognized by Times Group in 2023 with the "Amazing Indian" award in the agriculture sector.

Committee Restructuring

The Board approved the reconstitution of two key committees with immediate effect, incorporating Dr. Karuppasamy as a member in both committees and implementing leadership changes.

Audit Committee Composition

Key changes include the induction of Dr. Jayakumar Karuppasamy as a member and the appointment of Mr. Shivkumar Pundaleeka Divate as Chairperson, replacing Mr. Doreswamy Palaniswamy in the leadership role.

Nomination and Remuneration Committee

Regulatory Compliance and Meeting Details

The Board Meeting commenced at 16:02 IST and concluded at 16:43 IST on March 10, 2026. The company confirmed that Dr. Karuppasamy is not debarred from holding the office of Director by any SEBI order or other authorities and is not disqualified under the Companies Act, 2013. He holds no shares in the company and maintains no relationships with existing Directors or Key Managerial Personnel.

The appointment and committee changes align with the company's governance framework and are subject to necessary regulatory approvals and shareholder consent where applicable. The disclosure was made pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.