Pranik Logistics Limited has appointed Mr. Avinash Saigal as an Additional Director in the executive category for a term of three years effective July 3, 2026. The appointment, subject to shareholder approval at the ensuing Annual General Meeting, aims to strengthen the company's leadership with his extensive experience in supply chain management and logistics operations. The Board also approved a proposal to alter the Objects Clause of the Memorandum of Association to provide greater operational flexibility and pursue emerging business opportunities.

The Board of Directors approved the appointment based on the recommendation of the Nomination & Remuneration Committee. Mr. Saigal, who holds a DIN of 11730269, brings over 22 years of experience across retail, telecom, and infrastructure sectors. He joined Pranik Logistics in April 2022 and has served as the Chief Executive Officer since 2024. Prior to this, he held leadership roles at MORE Retail Private Limited, BigBasket, Reliance Jio Infocomm Limited, and Suguna Group.

In addition to the appointment, the Board approved the alteration of the Objects Clause of the Memorandum of Association. The proposed amendments seek to broaden the scope of business activities to include trading and integrated supply chain services for agricultural produce and FMCG products. The changes also enable the leasing and commercial utilisation of warehousing infrastructure, including cold storage facilities and fulfilment centres. The alterations are subject to shareholder approval.

The Board has convened the 12th Annual General Meeting of the Company on August 6, 2026, at 12:30 P.M. IST through video conferencing. Shareholders will vote on special businesses including authorisation to borrow money under Section 180(1)(c) of the Companies Act, 2013, and the alteration of the Main Objects and Incidental or Ancillary Objects Clauses. The appointment of Mr. Avinash Saigal as a Whole-time Director and approval of his remuneration are also on the agenda.

Mrs. Prachi Bhartia, a Practicing Company Secretary, has been appointed as the Scrutinizer for the e-voting and voting process at the AGM. The cut-off date for determining eligibility for e-voting is July 31, 2026. The Board meeting commenced at 03:00 p.m. IST and concluded at 04:30 p.m. IST.

Key Details of Appointment

Proposed Alterations to Objects Clause

Pranik Logistics Limited has closed its trading window for all directors, designated persons, and their immediate relatives effective July 1, 2026. This restriction is in place to prevent insider trading and will remain in force until 48 hours after the company declares its unaudited financial results for the quarter ended June 30, 2026. The closure aligns with the Internal Code of Conduct framed under the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The company stated that the specific date for the board meeting to approve the financial results for Q1FY26 will be communicated in due course. Until the results are announced, the specified individuals are prohibited from trading in the company's securities.

Key Details

The compliance measure ensures that sensitive information is not misused ahead of the quarterly financial disclosure. Pranik Logistics Limited, formerly known as Pranik Logistics Private Limited, is headquartered in Kolkata, West Bengal.