Organic Coatings Limited has strengthened its board and governance framework by appointing two independent directors and new auditors for the financial year 2026-27. The Board of Directors, at its meeting held on July 14, 2026, approved the appointment of Mr. Ramanathan Ganesh and Mr. Subhash Ambubhai Patel as Additional Directors in the category of Non-Executive Independent Directors. Both directors will hold office until the conclusion of the next Annual General Meeting. Simultaneously, the board noted the conclusion of the term of Mr. Ashwinkumar Harshadrai Raval as a Non-Executive Independent Director effective June 27, 2026.

In governance changes, the board appointed Mr. Kamal Lalani, a Practicing Company Secretary, as the Secretarial Auditor for FY27. The company removed M/s. Dharmesh A. Shah and Associates as Internal Auditors for the financial years 2026-27 and 2027-28, effective June 30, 2026. Consequently, M/s. ABSM & Associates, Chartered Accountants, Jaipur, were appointed as the new Internal Auditors for FY27 under Section 138 of the Companies Act, 2013.

The Board also approved a proposal to shift the registered office of the company from Maharashtra to Gujarat. This move is subject to the approval of shareholders and other required sanctions under the Companies Act, 2013. Alongside this, the board reconstituted the Nomination and Remuneration Committee and the Audit Committee, and approved the reduction of director remuneration.

On the financial front, the board sanctioned the availing of a Working Capital Term Loan and credit facility of INR 33.60 Lakhs from Bank of Maharashtra. The company also appointed a Nodal Officer regarding the Investor Education and Protection Fund (IEPF). The meeting commenced at 5.05 P.M. and concluded at 5.42 P.M. on July 14, 2026.

Key Appointments

Cessations

Organic Coatings Limited has scheduled a board meeting for July 14, 2026, to consider several governance and financial matters, including the appointment of auditors and the sanctioning of a new credit facility. The meeting will also address changes to the board's composition and a potential shift in the company's registered office location.

The board will consider the appointment of Mr. Kamal A. Lalani as Secretarial Auditor for the financial year 2026-27. Concurrently, the directors will discuss the removal of M/s. Dharmesh A. Shah and Associates, Chartered Accountants, as Internal Auditor for the financial years 2026-27 and 2027-28, and the appointment of M/s. ABSM & Associates, Chartered Accountants, as the new Internal Auditor for FY27.

In terms of leadership changes, the meeting will evaluate the appointment of two additional directors. Mr. Ramanathan Ganesh (DIN: 00016260) and Mr. Subhash Ambubhai Patel (DIN: 00535221) are proposed for appointment as Non-Executive and Independent Directors. The board also plans to reconstitute the Nomination and Remuneration Committee and the Audit Committee in light of these changes.

Financial proposals on the agenda include availing a Working Capital Term Loan or Credit Facility of ₹33.60 lakhs sanctioned by Bank of Maharashtra. The board will also consider a reduction in the remuneration of directors. Furthermore, the directors will deliberate on a proposal to shift the registered office of the company from Maharashtra to Gujarat.

The meeting will also cover the appointment of a Nodal Officer regarding the Investor Education and Protection Fund (IEPF). The intimation was submitted to BSE Ltd. under Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.