Mitshi India Limited has responded to BSE Limited's query regarding recent director resignations with a formal clarification under SEBI regulations. The company addressed concerns raised by the stock exchange about the departure of two board members from their positions.

Regulatory Compliance and Clarification

The clarification, dated March 14, 2026, was submitted in response to BSE's query from March 11, 2026, regarding a corporate announcement made on March 10, 2026. The announcement concerned the resignations of Mr. Hanumant Anaji Salunkhe and Ms. Drashti Tarun Savla from their director positions, as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Details and Confirmations

The company provided specific confirmations regarding both departing directors:

Key Confirmations to BSE

Mitshi India Limited made two primary confirmations in its clarification:

• Neither Mr. Hanumant Anaji Salunkhe nor Ms. Drashti Tarun Savla holds directorship in any other listed entity or company
• There are no other material reasons for their resignations beyond those already disclosed in the resignation letters submitted by them

Corporate Governance Compliance

The clarification was signed by Kumar Vasantlal Shah, Managing Director (DIN: 01451912), and submitted from the company's registered office in Mumbai. The document emphasizes the company's commitment to transparency and compliance with stock exchange requirements, ensuring all stakeholders are properly informed about board changes.

This submission fulfills the company's regulatory obligations and provides the stock exchange with the necessary information regarding the director resignations for record-keeping purposes.

Mitshi India Limited has announced significant board changes following its meeting held on March 10, 2026. The company has appointed Mrs. Bijal Yogesh Durgavale as Additional Director while accepting resignations from two existing Independent Directors, marking substantial changes in its board composition.

Board Meeting Outcomes

The board of directors of Mitshi India Limited convened on March 10, 2026, between 03:45 P.M. and 04:15 P.M. to consider and approve multiple director-related matters. The meeting resulted in one appointment and two resignations, all with different effective dates as specified in the regulatory filings.

New Director Profile

Mrs. Bijal Yogesh Durgavale brings substantial professional experience to Mitshi India Limited's board. She currently serves as Company Secretary of E & E Enterprises Ltd and holds a Master of Commerce degree from Mumbai University in Accounts. Her appointment strengthens the board with over thirteen years of professional experience in secretarial, legal, and compliance functions, along with a strong background in corporate governance and regulatory affairs.

Director Resignations

Two Independent Directors have resigned from their positions due to personal reasons and professional commitments. Mr. Hanumant Anaji Salunkhe (DIN: 03626114) and Mrs. Drashti Tarun Savla (DIN: 07117018) both submitted their resignations effective March 10, 2026, citing preoccupancy and increased professional commitments requiring their attention elsewhere.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mitshi India Limited has provided comprehensive disclosure details for all board changes. The company has submitted proper documentation to BSE Limited under scrip code 523782, ensuring full regulatory adherence. The disclosures confirm that the new director has no existing relationships with current directors and holds no shareholding in the company.

Company Information

Mitshi India Limited, formerly known as Dera Paints & Chemical Ltd, operates with its registered office at 204 B-Wing, Master Mind III, E Building Aarey Milk Colony, Mumbai, Goregaon East, Maharashtra, India, 400065. The company operates under CIN U91100MH1990PLC057373 and maintains its website at www.mitshi.in . All appointment and resignation documentation was signed by Kumar Vasantlal Shah, Managing Director (DIN: 01451912).