Saptak Chem & Business Limited has announced the resignation of its Independent Director Mr. Chirag Nanavati, effective March 13, 2026. The resignation was formally accepted during a board meeting held on the same date, as disclosed under Regulation 30 of SEBI listing regulations following BSE's directive dated March 14, 2026.

Board Meeting and Regulatory Compliance

The board meeting was conducted on March 13, 2026, from 4:30 p.m. to 5:00 p.m., where directors addressed key governance matters. The company submitted a fresh announcement to BSE Limited in compliance with SEBI Circular No: SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Committee Positions and Responsibilities

Mr. Nanavati held significant positions within the company's governance structure. His resignation encompasses multiple key roles including Chairman of the Audit Committee, Stakeholder Relationship Committee, and Member of the Nomination and Remuneration Committee.

Resignation Details and Confirmation

In his resignation letter dated March 13, 2026, Mr. Nanavati cited pre-occupation in other activities as the primary reason for stepping down. He expressed gratitude to the board for their cooperation during his tenure and wished the company continued success in future endeavors.

The director has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter. Mr. Nanavati also holds directorships in two other listed entities: Novyra Pharmachem Limited and Devrup Trading Limited, both as Independent Director.

Corporate Governance Impact

The company has fulfilled its disclosure obligations by providing comprehensive details as required under SEBI regulations. The resignation represents a routine corporate governance change, with the company maintaining its commitment to regulatory transparency and proper board composition management. The company has requested Form DIR-12 to be filed with the Registrar of Companies for official record.

Saptak chem & business Limited has announced the outcome of its board meeting held on March 17, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting, conducted at the company's registered office in Ahmedabad, successfully approved multiple corporate governance matters that require subsequent shareholder approval.

Financial and Investment Approvals

The board has approved several significant financial decisions requiring regulatory compliance and shareholder consent. Key approvals include granting loans and investments under Section 186 of the Companies Act 2013, along with providing guarantees. The board also approved transactions under Section 185 of the Companies Act 2013 and related party transactions, all subject to subsequent approval from the company's shareholders.

Director Appointments and Leadership Changes

The board approved multiple director appointments and regularizations that will strengthen the company's management structure:

The appointment of Mr. Ayush Vinod Kumar Tated as Managing Director represents a significant leadership development, with the approved five-year term extending from January 9, 2026 to January 8, 2031.

Committee Reconstitution

The board approved the reconstitution of three key committees with Mr. Jignesh Keshav Barot as Chairman across all committees:

Audit Committee

Nomination and Remuneration Committee

Stakeholders' Relationship Committee

Postal Ballot and Governance Procedures

The board approved the draft notice for postal ballot along with the timeline for e-voting facility to obtain shareholder approvals for the proposed matters. Mrs. Rupal Patel, Practising Company Secretary, has been appointed as Scrutinizer for the postal ballot process, ensuring compliance with regulatory requirements for shareholder voting.

Meeting Details

The board meeting commenced at 1:30 PM and concluded at 4:45 PM on March 17, 2026. The outcome was signed by Mr. Jubin Premji Gada, Director (DIN: 10820579), demonstrating the company's adherence to regulatory disclosure requirements under SEBI regulations.