Netlink Solutions (India) Ltd has announced key changes in its leadership structure following a significant shift in management control. The company's board meeting held on March 20, 2026, addressed the resignation of its Chief Financial Officer and the appointment of a replacement, both directly linked to the completion of an open offer under SEBI takeover regulations.

Management Control Change Through Open Offer

The leadership changes stem from a successful open offer made by three acquirers under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquiring parties include Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punitbhai Bavanjibhai Lakkad, who collectively targeted 26.00% of the company's voting share capital.

The open offer was triggered by the acquirers' purchase of 51.00% of the paid-up equity share capital in Jupiter Infomedia Limited, the holding company of Netlink Solutions, resulting in indirect acquisition of voting rights and control.

CFO Resignation and Appointment Details

Mrs. Rupa Minesh Modi tendered her resignation from the Chief Financial Officer position, effective from the close of business hours on March 20, 2026. Her resignation letter specifically cited the change in management and control following the completion of the open offer as the primary reason for her departure.

The board, based on recommendations from the Nomination and Remuneration Committee, approved the appointment of Mr. Punitbhai Bavanjibhai Lakkad as the new Chief Financial Officer and Key Managerial Personnel, effective March 21, 2026.

New CFO Profile and Experience

Mr. Lakkad brings extensive experience in client relationship management, business development initiatives, and strategic planning. His appointment aligns with the reconstitution of the board and management following the change in control.

Board Meeting and Regulatory Compliance

The board meeting that addressed these significant changes was conducted on March 20, 2026, commencing at 6.00 p.m. and concluding at 6.45 p.m. All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company has provided comprehensive documentation including resignation letters and detailed annexures as required under SEBI Master Circular dated January 30, 2026, demonstrating adherence to regulatory compliance standards during this transition period. In her resignation letter, Mrs. Modi confirmed that there were no other material reasons for her resignation beyond those stated, and expressed gratitude to the board and management for their support during her tenure.

Netlink Solutions (India) Ltd. has announced significant board changes following its meeting on March 10, 2026, approving the appointment of two new directors and sanctioning a substantial inter-corporate loan facility. These decisions come as part of an ongoing change in control and management structure following an open offer by multiple acquirers.

Director Appointments Following Open Offer

The board approved the appointment of two new directors based on recommendations from the Nomination and Remuneration Committee. The appointments are directly linked to an open offer made by three acquirers - Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punithbai Bavanjibhai Lakkad - for acquisition of 26.00% of the company's voting share capital under SEBI takeover regulations.

Both appointments are subject to shareholder approval and the directors will hold office until the ensuing General Meeting. Mrs. Kajal Baldha has been appointed as Whole-Time Director for a term of up to five years, representing one of the acquirers in the open offer process.

Professional Background of New Directors

Mr. Viren Bakraniya

Mr. Bakraniya brings over four years of professional experience in finance, taxation, and financial planning. As a Chartered Accountant and member of the Institute of Chartered Accountants of India, he has previously worked with Reliance Industries Limited and Ernst & Young. His expertise spans financial analysis, corporate and international taxation, and strategic financial management. He currently serves as a Director at Arix Capital Limited since January 2025 and holds a Bachelor of Commerce degree from Saurashtra University.

Mrs. Kajal Baldha

Mrs. Kajal Baldha possesses over 10 years of experience in services, advisory, and consultancy businesses. Her expertise encompasses business strategy, corporate advisory, and financial management, with active involvement in formulating and implementing business strategies for growth and operational efficiency. She has been associated with Arix Capital Limited as a Director since April 2019, overseeing strategic initiatives and corporate finance activities. She holds a Bachelor of Science degree from Veer Narmad South Gujarat University.

Inter-Corporate Loan Facility Approved

The board has sanctioned inter-corporate loans to entities as determined from time to time, subject to specific parameters and regulatory compliance.

The facility provides flexibility for the company to extend loans within the approved limit, with terms and conditions to be determined by the Board of Directors or authorized personnel from time to time.

Regulatory Compliance and Disclosures

The company has confirmed that both newly appointed directors are not debarred from holding directorial positions by SEBI or any other regulatory authority. The appointments have been made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follow the prescribed disclosure requirements under Regulation 30. The board meeting commenced at 6.15 p.m. and concluded at 7.00 p.m. on March 10, 2026, with all decisions taken based on committee recommendations where necessary. The appointments represent the acquirers on the board and are part of the broader change in control and management structure of the company.