Punjab communications has announced the reconstitution of its Board Committees effective March 25, 2026, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The restructuring follows changes in the composition of Independent Directors on the company's Board.

The Board of Directors approved the reconstitution through circulation on March 24, 2026, under Regulation 30 read with Para A of Part A of Schedule III of the SEBI regulations. The announcement was made to ensure continued compliance with corporate governance requirements following the change in Independent Directors.

Committee Restructuring Details

The reconstitution affects three key Board Committees, all comprising the same three Independent Directors in different leadership capacities:

Committee Composition

All three reconstituted committees maintain identical membership with rotating leadership roles:

• CA Shashi Bhushan Aggarwal - Independent Director serving as Audit Committee Chairman
• Mr. Manjeet Singh Dhillon, ITS (Retd.) - Independent Director leading the Nomination and Remuneration Committee
• Dr. Ashneet Kaur - Independent Director chairing the Stakeholders Relationship Committee

Regulatory Compliance

The reconstitution ensures the company maintains compliance with SEBI's listing obligations and disclosure requirements. The announcement was formally communicated to The Bombay Stock Exchange Ltd. on March 25, 2026, with Company Secretary & Compliance Officer Pratima Yadav signing the disclosure.

This restructuring demonstrates the company's commitment to maintaining robust corporate governance standards while adapting to changes in its Independent Director composition. The new committee structure takes immediate effect from March 25, 2026.

Punjab communications has announced changes in its independent directors under Regulation 30 of SEBI (LODR) Regulations, 2015. The company informed the Bombay Stock Exchange about the cessation of two directors and appointment of two new independent directors effective March 25, 2026.

Director Changes Overview

The board changes involve both cessations and appointments occurring on consecutive days. CA Devinder Kumar Singla and Dr. Neelu Jain ceased to be independent directors on March 24, 2026, due to completion of their second term as independent directors. The Board of Directors approved the appointment of CA Shashi Bhushan Aggarwal and Dr. Ashneet Kaur as new independent directors through circulation on the same day.

New Appointees Profile

The newly appointed independent directors bring diverse expertise to the board. CA Shashi Bhushan Aggarwal is a Fellow Chartered Accountant with over a decade of experience and holds specialized certifications in Concurrent Audit of Banks. He is an active practicing member of the Institute of Chartered Accountants of India and is associated with Bhushan Aggarwal & Co, operating from Aggar Nagar, Ludhiana, offering expertise in audit, taxation, and financial consultancy.

Dr. Ashneet Kaur brings strong research background and institutional experience. She is associated with leading institutions including the Indian School of Business and SP Jain Institute of Management and Research. Her professional experience includes work with global firms such as McKinsey & Company, Deloitte, and ATOS. Dr. Kaur holds a PhD in Human Resource Management from IIM Ahmedabad and has multiple publications in reputed international journals.

Appointment Terms and Compliance

Both new independent directors have been appointed for a period of five years each starting March 25, 2026. They will not be liable to retire by rotation, subject to approval of shareholders in the next general meeting of the company. The company has confirmed that both appointees are not debarred from holding director positions by any SEBI order or other authority, in compliance with SEBI Circular No. LIST/COMP/14/2018-19 dated June 20, 2018.

The appointments maintain the company's compliance with corporate governance requirements while bringing fresh perspectives and expertise to the board through the new independent directors' diverse professional backgrounds in finance, audit, research, and consulting.