Kalpataru Projects International Limited has appointed Mr. Gautam Mehra as an Additional Director designated as an Independent Director for a period of five years, effective June 9, 2026. The appointment, subject to the approval of shareholders at the ensuing Annual General Meeting, strengthens the company's governance structure with a seasoned professional experienced in tax, regulatory practices, and business advisory. The Board of Directors approved the decision following the recommendation of the Nomination and Remuneration Committee.

Mr. Gautam Mehra satisfies the criteria of independence under the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. He is not debarred from holding the office of a Director by any order passed by the Securities and Exchange Board of India or any other authority. Furthermore, he is not related to any other existing Director of the company.

The appointee is a business advisor with four decades of experience, including over a decade of entrepreneurship and over two decades as a partner at PwC. At PwC, he led the India Tax and Regulatory practice and the Asset Management Sector, serving on the Core India Leadership Team. He has advised funds invested in India and worked with multinational corporations and Indian business groups on investments, acquisitions, and succession planning.

Mr. Mehra is currently a member of two committees constituted by the Securities and Exchange Board of India. He has served on the boards and committees of industry organizations such as APREA, CII, Amcham India, and the ICAI. A qualified Chartered Accountant and Lawyer, he is also a Certified Coach with executive education from Harvard Business School and INSEAD.

The Board meeting commenced at 11:13 a.m. IST and concluded at 11:50 a.m. IST on June 9, 2026.

Kalpataru Projects International Limited has received a tax assessment order from the Eswatini Revenue Service (ERS) demanding a fine of SZL 1,717,787 (~ INR 99.12 lakhs) for the financial years 2022-23 to 2024-25. The order, received on June 8, 2026, arises from the wrongful addition of offshore supply revenue and the disallowance of certain expenses incurred by the company's branch in the Kingdom of Eswatini. The company stated that the fine does not have any significant impact on its operations and intends to exercise its right to file objections against the order within the prescribed timelines.

The disclosure was made to the exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation regarding the order was received by the company at 01:08 PM IST on June 8, 2026.

Details of the Order

The Eswatini Revenue Service passed the order based on alleged violations related to the tax assessment of the branch office. The authority disputed the revenue recognition and expense claims for the specified period.

Company Response

Kalpataru Projects International Limited has clarified that the branch office situated in the Kingdom of Eswatini will contest the order. The management affirmed that the penalty levied does not have a material financial impact on the listed entity. The objections will be filed as per the regulatory timelines applicable in the jurisdiction.