GB Global Limited's Board of Directors appointed Tushar Momaiyah as a Non-Executive Independent Director, effective from the closing hours of July 17, 2026. The company also accepted the resignation of Paresh Jain from his position as Non-Executive Independent Director, effective from the same date. These decisions were taken during a Board meeting held at the company's registered office in Mumbai.

The appointment of Mr. Momaiyah is subject to the terms approved by the Board. He holds a Bachelor of Commerce degree with a specialization in financial parameters and a Bachelor of Legislative Laws (LL.B.) degree. His professional background includes significant experience in corporate laws, legal and regulatory compliance, and corporate governance.

Mr. Paresh Jain tendered his resignation via a letter dated July 6, 2026, citing personal reasons. He confirmed that there were no material reasons for his departure other than those stated. The resignation was effective from the closing hours of July 17, 2026.

The meeting was conducted in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board also took note of other agenda items related to the operations of the business.

Board Changes Summary

GB Global Ltd has clarified that the audit qualifications issued for the financial year ended March 31, 2025, have no financial impact on its standalone or consolidated results. The company submitted the Statement of Impact of Audit Qualifications to the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited in response to queries regarding the modified opinion issued by its statutory auditors, M/s. Bhuta Shah & Co. LLP.

The auditors issued a qualified opinion due to complete details regarding inventory (quantity and valuation) not being made available, and balances of trade payables, trade receivables, advances received and given, and GST balances being subject to confirmation and reconciliation. Management stated that these qualifications are qualitative in nature, and the impact is unascertainable. Consequently, the adjusted figures for the financial year remained identical to the audited figures reported earlier.

Financial Impact

The company disclosed that the adjusted figures for the financial year remained identical to the audited figures reported earlier. The key financial metrics for the standalone and consolidated financial statements for the year ended March 31, 2025, are detailed below.

Board Approvals

The Board of Directors of GB Global Ltd, in its meeting held on May 29, 2025, approved the audited financial statements for the quarter and year ended March 31, 2025. The statutory auditors carried out the audit of the results in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.