Lykis Limited accepts Managing Director resignation

Lykis Limited announced the outcome of its board meeting held on May 25, 2026. The board accepted the resignations of three key personnel and approved the appointment of two new directors to the company.

Resignations

The board approved the resignation of Mr. Nadir Dhrolia from the position of Managing Director, effective June 1, 2026. Mr. Dhrolia cited pursuing alternate career opportunities outside the organization as the reason for his departure.

Mr. Amit Mallawat resigned from the position of Independent Director with effect from May 15, 2026. In his resignation letter, Mr. Mallawat stated that pre-occupation and other professional commitments prevented him from devoting sufficient time to his duties.

Ms. Darshana Sawant resigned from the position of Company Secretary & Compliance Officer, effective May 9, 2026. She decided to pursue career opportunities outside the organization.

Appointments

To fill the vacancies, the board appointed Mr. Jitendra Kumar Ranka as an Additional Director in the Executive Category, effective May 25, 2026. Mr. Ranka brings over 15 years of experience in the real estate business and securities market.

Additionally, the board appointed Mr. Nishant Bajaj as an Additional Director in the Non-Executive Category, effective May 25, 2026. Mr. Bajaj is a Law Graduate and a Member of the Institute of Company Secretaries of India (ICSI), with experience in advisory and compliance services.

Summary of Changes

The following table summarizes the changes in the company's leadership:

Name	Position	Effective Date	Type
Mr. Nadir Dhrolia	Managing Director	June 1, 2026	Resignation
Mr. Amit Mallawat	Independent Director	May 15, 2026	Resignation
Ms. Darshana Sawant	Company Secretary & Compliance Officer	May 9, 2026	Resignation
Mr. Jitendra Kumar Ranka	Additional Director (Executive)	May 25, 2026	Appointment
Mr. Nishant Bajaj	Additional Director (Non-Executive)	May 25, 2026	Appointment

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.32%	-0.66%	+1.44%	+32.01%	+35.13%	+32.90%

Lykis Limited has informed BSE Limited of the resignation of Mr. Amit Mallawat (DIN: 07898743) from his position as Non-Executive Independent Director of the company, effective May 15, 2026. The intimation, signed by Managing Director Nadir Dhrolia on May 16, 2026, was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reason for Resignation

In his resignation letter dated May 15, 2026, addressed to the Board of Directors from Mumbai, Mr. Mallawat cited pre-occupation and other professional commitments as the reason for his departure. He stated that due to these commitments, he may not be able to devote sufficient time to effectively discharge his duties as an Independent Director. He also conveyed his gratitude to the Board for their cooperation and support during his tenure.

Regulatory Disclosures

The company has provided the following disclosures as required under Schedule III - Para A(7B) of Part A of the Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015:

Parameter:	Details
Director Name:	Mr. Amit Mallawat
DIN:	07898743
Designation:	Non-Executive Independent Director
Reason for Change:	Resignation due to pre-occupation and professional commitments
Date of Cessation:	May 15, 2026
Directorships in Other Listed Entities:	None
Material Reasons Beyond Stated:	None confirmed

Confirmation of No Material Reasons

The company confirmed that Mr. Amit Mallawat has provided a declaration stating there are no material reasons for his resignation other than those mentioned in his resignation letter dated May 15, 2026. This is in compliance with the requirement that an independent director provide such confirmation alongside detailed reasons for resignation. The intimation has also been uploaded on the company's website at www.lykis.com , as required under applicable regulations.