JHS Svendgaard Retail Ventures Limited has accepted the resignation of Dr. Deepali Bhardwaj as an Independent Director on its Board, effective August 12, 2026. The company disclosed that Dr. Bhardwaj stepped down due to pre-occupancy with other commitments, a common reason for independent director exits in listed entities. Her departure reduces the number of independent directors on the Board until a replacement is appointed, potentially impacting quorum requirements for future board meetings depending on the total board size.

The resignation was formalized through a letter dated August 12, 2026, in which Dr. Bhardwaj confirmed there were no other material reasons for her exit beyond pre-occupancy. She affirmed that she had discharged her duties in accordance with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, during her tenure. The company’s Company Secretary and Compliance Officer, Kuldeep Jangir, signed the intimation to the stock exchanges.

Regulatory Disclosures

The company filed the necessary disclosures pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III. Additionally, the filing complied with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The intimation was submitted to both the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.

Director Profile and Cessation Details

Dr. Deepali Bhardwaj, holding DIN 06591514, ceased to be a director at the close of business hours on Wednesday, August 12, 2026. In addition to her role at JHS Svendgaard, Dr. Bhardwaj is a Consultant Dermatologist and holds fellowships with ISD (Iran), EADV (Germany), IADVL, and ACSI. She is also associated with Skin & Hair Clinic and serves as Visiting Adjunct Faculty at AIIMS Rishikesh.

Board Composition Impact

The loss of an independent director requires the company to appoint a successor to maintain compliance with SEBI listing regulations, which mandate a minimum proportion of independent directors on the Board. Until a new appointment is made, the Board must ensure that it continues to meet all statutory quorum and composition requirements for valid decision-making. The company has not yet announced a timeline for filling the vacancy.

JHS Svendgaard Retail Ventures disclosed that its promoters and promoter group members did not create any encumbrance on their shares during the year ended March 31, 2026. This confirmation, provided under Regulation 31(4) & (5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, assures stakeholders that the shareholding remains unencumbered directly or indirectly.

The disclosure was submitted to the Audit Committee and the stock exchanges, including BSE Limited and National Stock Exchange of India Limited. The filing confirms that throughout the financial year, no shares held by the promoters or members of the promoter group were pledged or otherwise encumbered.

The list of promoters and promoter group members as on March 31, 2025, includes five key entities. The primary promoters are Mr. Nikhil Nanda, Mrs. Sushma Nanda, and Mr. Daljit Singh Grewal. Additionally, Late Sh. Harish Chander Nanda is listed as a promoter, while JHS Svendgaard Laboratories Limited is identified as a member of the promoter group.

Promoter and Promoter Group Details

The statement was signed on behalf of all promoters and members of the promoter group by Mr. Nikhil Nanda, Promoter, in New Delhi. This regulatory filing ensures transparency regarding the holding status of the company's key stakeholders.