Safari Industries (India) Ltd announced the outcome of its Board Meeting held on May 19, 2026, approving several key managerial changes and director appointments. The Board has greenlit the re-appointment of two existing Independent Directors and appointed a new Company Secretary, while also accepting resignations from an Independent Director and the Chief Financial Officer.

Re-appointment of Independent Directors

The Board approved the re-appointment of Mr. Sridhar Balakrishnan as a Non-Executive Independent Director for a second term of five years. His current term expires on August 9, 2026, and the new term is proposed from August 10, 2026, to August 9, 2031, subject to shareholder approval. Mr. Balakrishnan is the Chief Executive Officer of Duroflex Limited and brings extensive experience in the FMCG, media, and construction products industries.

Similarly, Mr. Aseem Dhru has been re-appointed as a Non-Executive Independent Director for a term of five years, effective from November 1, 2026, to October 31, 2031, subject to member approval. He currently serves as the Managing Director and Chief Executive Officer of SBFC Finance Limited and possesses over 28 years of experience in the banking sector.

Resignations and New Appointments

Mr. Rahul Kanodia has resigned from his position as Non-Executive Independent Director, effective May 20, 2026. The resignation follows his decision to step down due to governance and independence requirements related to a family marriage alliance with the Promoter. The Board placed on record its appreciation for his contributions over nearly 10 years.

In a significant change to the Key Managerial Personnel, Mr. Vineet Poddar resigned as Chief Financial Officer to pursue other career opportunities. His resignation was accepted by the Board, and he will be relieved from his duties effective June 30, 2026. Consequently, the Board appointed Mr. Abhijaat Sinha as the Company Secretary, Compliance Officer, and Nodal Officer, effective June 17, 2026. Mr. Sinha brings over 27 years of experience in secretarial and legal functions.

Committee Re-constitution and AGM Notice

Following the resignation of Mr. Rahul Kanodia, the Board re-constituted the Nomination, Remuneration and Compensation Committee effective May 20, 2026. The committee will be chaired by Mr. Sanjiv Kakkar, with Mr. Sridhar Balakrishnan and Mr. Piyush Goenka serving as members.

Furthermore, the Board approved the notice for the 46th Annual General Meeting, scheduled to be held on August 4, 2026. The notice will be circulated to members within the prescribed timelines.

Safari Industries (India) Limited has formally declared that no encumbrance has been created on the shares held by its promoters and promoter group during the financial year ending March 31, 2026. This disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The declaration, dated April 6, 2026, was addressed to BSE Limited and the National Stock Exchange of India Limited. It confirms that no direct or indirect encumbrance was made on the shares belonging to the Promoters, Promoter Group, or Persons Acting in Concert throughout the specified financial period.

Regulatory Compliance

The submission is a mandatory disclosure required under the SEBI regulations to ensure transparency regarding the holding status of promoter shares. The company requested the exchanges to take the declaration on record and acknowledge its receipt.

The communication was signed by Sudhir Jatia, a Promoter of the company, on behalf of Safari Industries (India) Limited.