Paradeep parivahan Limited has officially clarified to BSE Limited that the Escrow Payment Mechanism requirements under SEBI regulations are not applicable to the company. The clarification was submitted in response to BSE's inquiry dated April 15, 2026.

Company's Official Position

In its communication to the General Manager-Listing Department of BSE Limited, Paradeep Parivahan Limited explicitly stated that the requirement for submission of Escrow Payment Mechanism details does not apply to the listed entity. The company emphasized that it has not issued any instruments or arrangements that would necessitate compliance with the escrow mechanism under relevant SEBI regulations.

Regulatory Context

The clarification comes in response to BSE's email inquiry regarding the submission of details relating to the Escrow Payment Mechanism. Such mechanisms are typically required under SEBI regulations for specific types of financial instruments or arrangements to protect investor interests.

Management Statement

Managing Director Khalid Khan digitally signed the communication, confirming the company's position that no disclosure or submission is required regarding the Escrow Payment Mechanism. The company has requested BSE to take this clarification on record.

Key Implications

The clarification indicates that Paradeep Parivahan Limited's current business structure and financial instruments do not fall under the purview of SEBI's Escrow Payment Mechanism requirements. This suggests the company operates without the specific types of arrangements that would trigger such regulatory obligations.

Paradeep parivahan Limited has announced the appointment of Mr. Abdul Basith Shaikh as Additional Director, effective April 13, 2026. The decision was approved by the company's Board of Directors during their meeting held on April 13, 2026, following a recommendation from the Nomination and Remuneration Committee.

Board Meeting Outcome

The board meeting, which commenced at 12 p.m. and concluded at 4.00 p.m. on April 13, 2026, formally approved the appointment of Mr. Abdul Basith Shaikh (DIN: 11070576) as an Additional Director. The appointment has been made in accordance with the applicable provisions of the Companies Act, 2013, and SEBI Listing Regulations.

Professional Background

Mr. Abdul Basith Shaikh brings a strong academic foundation and extensive industry experience to his new role. He holds a B.Tech degree from the prestigious National Institute of Technology Karnataka and an MBA from Narsee Monjee Institute of Management Studies, Mumbai.

With over a decade of rich and diverse industry experience, Mr. Shaikh has been associated with leading conglomerates including:

• JSW Group
• Welspun Group
• Tata Steel

Before his appointment as Additional Director, Mr. Shaikh was serving as Vice President of the company, where he contributed significantly towards the strategic and operational objectives. He is recognized for his ability to translate complex business challenges into actionable outcomes and scalable opportunities, combining technical acumen with strategic vision.

Regulatory Compliance

The appointment has been made following confirmation that Mr. Shaikh is not debarred from holding the office of Director by virtue of any SEBI order or other regulatory authority. The company has disclosed all required details under Regulation 30 of the SEBI Listing Regulations, including relevant SEBI circulars dated July 13, 2023, and November 11, 2024.

Related Party Disclosure

As per regulatory requirements, the company has disclosed that Mr. Abdul Basith Shaikh is a related party to Managing Director Mr. Khalid Khan (DIN: 06432054), being his daughter's husband.

Future Plans

Mr. Shaikh will continue to serve as an Additional Director on the Board until the upcoming Annual General Meeting. His appointment is expected to be regularized as a whole-time director of the company, subject to approval of shareholders.