Neelkanth Limited announced significant changes to its board composition and committee structure following a board meeting held on March 20, 2026. The company made these disclosures in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Appointments and Resignations

The board approved the appointment of Mr. Devidas Jayram Shejul (DIN: 10868647) as an additional director designated as Independent Director, subject to shareholder approval. The appointment is effective from March 20, 2026, for a first term of five years extending until March 19, 2031.

Mr. Shejul is a qualified lawyer and member of the Bar Council of Maharashtra & Goa, practicing as an advocate since 2007. He has confirmed meeting the independence criteria under the Companies Act, 2013 and SEBI LODR Regulations, 2015. The company has also received confirmation that he is not debarred from accessing capital markets or holding directorial positions.

Simultaneously, Mr. Yogesh Jaintilal Thakkar (DIN: 07275147) tendered his resignation as Independent Director effective from the close of business hours on March 20, 2026. His resignation was attributed to personal reasons, and he confirmed no other material reasons beyond those stated in his resignation letter.

Committee Reconstitution

Following the board changes, the company reconstituted three key committees with effect from March 20, 2026. All committees now have identical composition with Sangeeta Vijay Kumar serving as Chairman across all three.

Regulatory Compliance and Meeting Details

The board meeting, which commenced at 3.00 P.M. and concluded at 3.30 P.M., ensured that the company's board composition remains compliant with requirements under the Companies Act, 2013 and SEBI Listing Regulations. The appointment was made based on the recommendation of the Nomination and Remuneration Committee.

Mr. Thakkar's resignation also affects his positions in other listed entities, where he serves as Independent Director at Asian Warehousing Limited and holds memberships in its Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

The changes reflect the company's commitment to maintaining robust corporate governance standards while ensuring smooth transitions in board leadership and committee oversight. The company confirmed that Mr. Shejul is not related to any existing Directors or Key Managerial Personnel.

Neelkanth Limited , formerly known as R T Exports Limited, has disclosed a significant reshuffling of shares within its promoter group. The company announced an inter-se transfer of shares that will result in a substantial change in the individual holdings of key promoters while maintaining the overall promoter group stake.

Details of the Share Transfer

The proposed transaction, scheduled to take place on or after September 23, 2025, involves two key transfers:

1. Bhavik Rashmi Bhimjyani will gift 349,566 shares, representing 8.02% of the company's equity, to Rashmi C Bhimjyani.
2. R T Agro Private Limited will transfer 326,925 shares, constituting 7.50% of the equity, through the open market.

Impact on Shareholding

This reshuffle will lead to significant changes in the individual holdings of the promoter group members:

Regulatory Compliance

The company has emphasized that this inter-se transfer falls within the exemption under Regulation 10(1)(a)(i) & 10(1)(a)(ii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As such, it does not trigger an open offer requirement.

Market Context

The volume-weighted average market price for Neelkanth Limited's shares over the 60 trading days preceding the announcement was approximately Rs. 48.76 per share.

Unchanged Aggregate Holding

It's important to note that despite the significant individual changes, the aggregate shareholding of the Promoter and Promoter Group will remain unchanged before and after the proposed inter-se transfer.

Neelkanth Limited has stated that all necessary disclosures have been made to the stock exchanges in compliance with regulatory requirements. The company's management assures that this internal restructuring of promoter holdings does not affect the overall promoter group's commitment to the company.