Heranba Industries Limited has strengthened its board structure with the appointment of two new directors, as announced following a board meeting held on March 31, 2026. The appointments reflect the company's commitment to enhancing its governance framework and leadership capabilities, with comprehensive regulatory compliance details now available.

Board Appointments Overview

The board meeting resulted in two significant directorial appointments effective from April 01, 2026, based on recommendations from the Nomination and Remuneration Committee. Both appointments are subject to approval from the company's shareholders and comply with SEBI listing regulations.

Independent Director Profile and Appointment

Mr. Omprakash S. Singh has been appointed as an Additional Director to serve in the capacity of Non-Executive Independent Director for a five-year term. His office will not be liable to retire by rotation, providing stability to the board's independent oversight function.

Executive Director Appointment and Background

Mr. Roshan R. Shetty's appointment follows a dual structure, initially being appointed as an Additional Director and subsequently designated as Whole-Time Director with the title of Executive Director. This executive role spans five years and strengthens the company's operational leadership team.

Regulatory Compliance and Clearances

The company has affirmed compliance with regulatory requirements, specifically referencing NSE Circular No. NSE/CML/2018/24 and BSE Circular No. LIST/COMP/14/2018-19, both dated June 20, 2018. Heranba Industries confirmed that neither Mr. Omprakash S. Singh nor Mr. Roshan R. Shetty are debarred from holding directorial positions by SEBI or any other regulatory authority.

Next Steps and Documentation

The appointments require shareholder approval to be finalized. Additional details as mandated under SEBI LODR Regulations and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, have been disclosed in comprehensive annexures. The formal communication was signed by Abdul Latif, Company Secretary and Compliance Officer.

Heranba Industries Limited has disclosed that Haresh Petrochem Private Limited has filed an insolvency application against the company at the National Company Law Tribunal (NCLT) Ahmedabad. The filing was made under Section 9 of the Insolvency and Bankruptcy Code, 2016, involving a payment dispute worth Rs. 2.63 crores.

Case Details and Financial Impact

The insolvency petition was filed on March 20, 2026, with the next hearing scheduled for April 20, 2026. The company has provided comprehensive details of the case as required under Schedule III of SEBI LODR regulations.

Company's Position on Payment Dispute

Heranba Industries has explained that the payment was temporarily withheld due to quality issues identified in the goods or services supplied by Haresh Petrochem Private Limited. The company stated it is actively coordinating with the petitioner to resolve the quality matter that led to the payment delay.

Expected Resolution and Impact Assessment

The company expressed confidence that upon resolution of the quality issue, the payment will be duly released. Heranba Industries expects the matter to be settled amicably outside the NCLT proceedings without requiring formal adjudication.

Regarding potential impact, the company acknowledged that the initiation of insolvency proceedings may have material impact on its financial position, operations, or future prospects, depending on the outcome. However, it emphasized that once the matter is settled, there will be no impact on the company.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Abdul Latif signed the intimation, ensuring compliance with regulatory requirements. The company has committed to providing timely updates on further developments in this matter as required under SEBI LODR regulations.