Sagarsoft (India) Limited has officially confirmed the appointment of Mrs. Kanakadhara Srinivasan as Independent Director through regulatory filings submitted to BSE Limited on March 20, 2026. The company filed the formal intimation under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, confirming shareholder approval obtained through postal ballot voting.

Director Appointment Details

Mrs. Kanakadhara Srinivasan (DIN: 01650788) has been appointed as Independent Director for a five-year term effective from January 13, 2026. The appointment was approved by shareholders through postal ballot via e-voting, with the company confirming compliance with all regulatory requirements under SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Professional Background and Experience

Mrs. Srinivasan brings extensive expertise to the board with over 15 years of experience in financial advisory, mergers and acquisitions, and board-level oversight. Her professional background includes advising on more than 100 domestic and cross-border transactions across diverse sectors including IT and ITeS, healthcare, manufacturing, education, and consumer sectors.

Her work has involved close engagement with promoters, boards, private equity investors, and senior management teams on financial due diligence, transaction structuring, and evaluation of strategic and financial risks.

Regulatory Compliance and Independence

The company has confirmed that Mrs. Srinivasan is not related to any Director, Manager, or Key Managerial Personnel of the company, ensuring her independence as required under SEBI regulations. Additionally, Sagarsoft has certified that she has not been debarred from holding the office of Director by virtue of any SEBI order or any other authority, in compliance with BSE Circular No. LIST/COMP/14/2018-19.

Postal Ballot Voting Results

The appointment received overwhelming shareholder support through the postal ballot process conducted between February 18 and March 19, 2026. Shareholders approved the appointment with 99.96% votes in favor, demonstrating strong confidence in the new director's capabilities.

The formal regulatory filing was signed by Company Secretary & Compliance Officer T. Sri Sai Manasa and submitted to BSE Limited, completing all necessary compliance requirements for the director appointment.

Sagarsoft (India) Limited has filed its quarterly fund utilization statement with BSE Limited, providing transparency on the deployment of funds raised through its preferential issue. The submission, made under Regulation 32(3) of SEBI (LODR) Regulations 2015, covers the quarter ended December 31, 2025.

Fund Raising Details

The company had raised funds through a preferential issue completed on July 26, 2021. The key parameters of the fund raising are presented below:

Fund Utilization Status

The company reported complete utilization of the raised funds with no deviation from the original objects. The funds were originally allocated for further acquisition and other general corporate purposes.

Compliance and Monitoring

Sagarsoft (India) Limited confirmed that there was no deviation or variation in the use of funds raised during the reporting quarter. The company stated that no monitoring agency was applicable for this fund raising. Both the Audit Committee and auditors provided no specific comments on the fund utilization.

The statement was signed by T. Sri Sai Manasa, Company Secretary and Compliance Officer (Membership No: A61433), and submitted from the company's Hyderabad office on February 12, 2026. This regulatory filing demonstrates the company's commitment to maintaining transparency in fund deployment and adhering to SEBI compliance requirements.