NewsRicha Infosystems Limited Appoints Mrs. Bhartiben Parmar as Additional Director and Reconstitutes Key Board CommitteesRicha Infosystems Limited Appoints Mrs. Bhartiben Parmar as Additional Director and Reconstitutes Key Board Committees
Richa Infosystems Limited's Board of Directors, in its meeting held on May 13, 2026, approved the appointment of Mrs. Bhartiben Parmar (DIN: 11277511) as Non-Executive Non-Independent Director (Additional) for a term of five consecutive years, subject to shareholder approval. The board simultaneously reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee, effective the same date, following changes in the company's management. All three reconstituted committees comprise Sejal Shaileshbhai Pandya as Chairperson and Mehul Arvind Gadani and Bhartiben Parmar as members. The disclosures were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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The Board of Directors of richa info systems convened a meeting on Wednesday, May 13, 2026, commencing at 06:00 PM and concluding at 06:30 PM, during which several significant corporate governance decisions were approved. The board's resolutions, disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, include a new director appointment and the reconstitution of three key board committees.
Appointment of Mrs. Bhartiben Parmar as Additional Director
Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mrs. Bhartiben Parmar (DIN: 11277511) as a Non-Executive Non-Independent Director (Additional) of the company. The appointment is effective from May 13, 2026, for a term of five consecutive years, subject to the approval of shareholders. Mrs. Parmar is not liable to retire by rotation under the terms of her appointment.
The key details of the appointment, as disclosed under Regulation 30 of the SEBI Listing Regulations, are summarised below:
| Parameter: | Details |
|---|---|
| Name: | Mrs. Bhartiben Parmar |
| DIN: | 11277511 |
| Designation: | Non-Executive Non-Independent Director (Additional) |
| Effective Date: | May 13, 2026 |
| Term: | Five consecutive years (subject to shareholder approval) |
| Relationship with Directors: | Not related to any Director of the company |
| Debarment Status: | Not debarred from holding office by any SEBI order or other authority |
Mrs. Parmar has completed her Secondary School education (10th Pass) and possesses practical experience in corporate management and administration. She has previously served as a Director in an information systems related company for a period of 3 years, during which she gained exposure in business operations, management functions, and decision-making processes.
Reconstitution of Board Committees
The Board also approved the reconstitution of three statutory committees — the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders' Relationship Committee — with effect from May 13, 2026. This reconstitution was undertaken pursuant to changes in the management of the company.
Audit Committee
| Name of Director: | Position in Committee | Designation |
|---|---|---|
| Sejal Shaileshbhai Pandya | Chairperson | Non-Executive Independent Director |
| Mehul Arvind Gadani | Member | Non-Executive Independent Director |
| Bhartiben Parmar | Member | Non-Executive Non-Independent Director |
Nomination & Remuneration Committee
| Name of Director: | Position in Committee | Designation |
|---|---|---|
| Sejal Shaileshbhai Pandya | Chairperson | Non-Executive Independent Director |
| Mehul Arvind Gadani | Member | Non-Executive Independent Director |
| Bhartiben Parmar | Member | Non-Executive Non-Independent Director |
Stakeholders' Relationship Committee
| Name of Director: | Position in Committee | Designation |
|---|---|---|
| Sejal Shaileshbhai Pandya | Chairperson | Non-Executive Independent Director |
| Mehul Arvind Gadani | Member | Non-Executive Independent Director |
| Bhartiben Parmar | Member | Non-Executive Non-Independent Director |
The company has stated that the composition of the Board of Directors remains in compliance with the requirements prescribed under the Companies Act, 2013 and the applicable Listing Regulations. The disclosures were signed by Tushar Dineshchandra Shah, Managing Director (DIN: 03115836), on behalf of Richa Infosystems Limited.
Historical Stock Returns for Richa Info Systems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.00% | +15.03% | +49.63% | +23.19% | +12.80% | -23.96% |
How might Mrs. Bhartiben Parmar's appointment influence Richa Info Systems' strategic direction, given her background in corporate management rather than a technical IT background?
What were the specific management changes that triggered the reconstitution of all three board committees simultaneously, and could this signal a broader leadership transition at Richa Info Systems?
Will shareholders approve Mrs. Parmar's appointment at the upcoming general meeting, and are there any potential governance concerns regarding her educational qualifications for an IT-focused company?
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