ITL Industries Limited has announced significant corporate decisions following a board meeting held on March 17, 2026. The company disclosed these developments under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Outcomes

The Board of Directors approved multiple strategic decisions during the meeting held at the company's registered office. The key resolutions included the appointment of a new Internal Auditor and the disinvestment of the company's stake in a subsidiary.

Internal Auditor Appointment

The board approved the appointment of Aditya Jakhetia & Associates, an Indore-based proprietorship firm of Chartered Accountants, as the company's Internal Auditor. This decision was made following the resignation of Mrs. Pratibha Kothari, who stepped down from the position on March 5, 2026.

Aditya Jakhetia & Associates brings over 10 years of professional experience in accounting, auditing, taxation, and advisory services. The firm is led by CA. Aditya Jakhetia, a Fellow Member of the Institute of Chartered Accountants of India with membership number 428532.

Subsidiary Disinvestment Decision

In a significant strategic move, the board approved the disinvestment of the company's entire shareholding in its non-material subsidiary, M.M. Metals Private Limited. The disinvestment will be executed through a Share Sale Agreement with definitive terms approved by the board.

The disinvestment represents ITL Industries Limited's strategic decision to optimize its portfolio by divesting from non-core assets. The company currently holds 30,480 equity shares representing 52.55% of the issued, subscribed and paid-up equity share capital of M.M. Metals Private Limited.

Regulatory Compliance and Documentation

The appointments and disinvestment decisions were disclosed in accordance with SEBI regulations and relevant circulars. The company has ensured full compliance with all regulatory requirements, including proper documentation and board approvals for both the Internal Auditor appointment and subsidiary disinvestment.

These strategic decisions reflect ITL Industries Limited's commitment to maintaining robust internal controls while optimizing its corporate structure through focused disinvestment activities.

ITL Industries Limited has announced a board meeting scheduled for March 17, 2026, to address significant corporate governance matters and strategic decisions. The meeting, set to commence at 3:00 P.M. at the company's registered office, will focus on internal auditor transitions and potential subsidiary disinvestment.

Board Meeting Details

The board meeting has been convened to handle multiple critical business items that require director approval and oversight.

Key Agenda Items

The board will deliberate on several important matters during the scheduled meeting:

Internal Auditor Transition

The primary focus will be on internal auditor changes, with the board set to acknowledge the resignation of the current Internal Auditor and approve the appointment of a new Internal Auditor for Financial Year 2025-26. This transition represents a routine but essential corporate governance function.

Subsidiary Disinvestment Proposal

A significant agenda item involves the consideration of disinvestment proposal regarding M.M. Metals Private Limited, a non-material subsidiary company. The board will evaluate the proposal for disinvestment, sale, or transfer of equity shares held by ITL Industries in this subsidiary.

Additional Considerations

The meeting agenda also includes provisions for addressing any additional items that may arise, subject to Chairman's permission and majority director consent, including at least one Independent Director if present.

Regulatory Compliance

The board meeting notification has been filed under Regulation 29 requirements, ensuring proper disclosure to stakeholders and regulatory authorities. The company has requested BSE Limited to disseminate this information on the stock exchange website for public access and transparency.