GSL Securities has appointed four additional directors, including Shrikant Mitesh Bhangdiya, Aarti Shrikant Bhangdiya, Sonal Kirtikumar Bhangdiya, and Chelikani Veera Venkata Suresh Babu. The appointments are subject to Reserve Bank of India approval.

The Board also accepted the resignation of Managing Director Santkumar Bagrodia and Non-Executive Non-Independent Director Shailja Bagrodia. Both resignations require RBI approval to take effect.

Board Appointments

The Nomination and Remuneration Committee recommended the new appointments. The Board approved them on September 16, 2026, during a meeting held in Mumbai.

Shrikant Mitesh Bhangdiya holds a Bachelor's degree in Civil Engineering and an MS in Management. He brings over a decade of commercial and managerial experience. He is related to fellow appointees Aarti Shrikant Bhangdiya and Sonal Kirtikumar Bhangdiya.

Aarti Shrikant Bhangdiya holds a B.Com degree and possesses more than 10 years of experience in business management and corporate governance. Sonal Kirtikumar Bhangdiya is a commerce graduate with over 10 years of business experience from an industrialist family.

Chelikani Veera Venkata Suresh Babu holds a B.Com and a Post Graduate Diploma in Financial Management. He has experience in over 200 securitisation transactions and risk management. He is not related to any existing or newly proposed directors.

Resignations

Santkumar Bagrodia, the Managing Director, has resigned from his position. Shailja Bagrodia, a Non-Executive Non-Independent Director, has also resigned. The company confirmed that neither director is debarred by SEBI or other authorities.

Regulatory Compliance

The company affirmed that all newly appointed directors are not debarred from holding office under SEBI orders. The outcomes were disclosed pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

GSL Securities shareholders adopted the company's audited financial statements for FY26 and reappointed key management personnel during its 32nd Annual General Meeting on September 7, 2026. The resolutions passed with overwhelming support from the promoter group.

The meeting, chaired by Managing Director Santkumar Bagrodia, saw a total of 48 members present in person. A total of 1,910,037 votes were polled out of 4,275,100 outstanding shares, representing a 44.68% turnout. The statutory auditors issued an unqualified report with no adverse remarks.

Key Resolutions Passed

Shareholders approved three primary items during the proceedings:

• Adoption of the audited financial statements and the Directors' Report for FY26.
• Reappointment of Mrs. Shailja Bagrodia as a director upon retirement by rotation.
• Reappointment of Mr. Santkumar Bagrodia as Managing Director for a further period of one year.

Voting Breakdown

The promoter group, holding 1,908,200 shares, voted entirely in favour of all three resolutions via poll voting at the venue. The public category held 2,366,900 shares. While public participation via remote e-voting was low (only 331 votes cast), those who did vote electronically showed some dissent, with 30 votes cast against each resolution. However, this opposition was negligible compared to the promoter support.

Scrutinizer Report

M/s. Shivhari Jalan & Co acted as the scrutinizer for the voting process. The firm confirmed that no polling papers were found defective and that the e-voting data from NSDL was reconciled correctly. The results were declared on the day of the meeting.