Shashijit Infraprojects Limited has appointed Asha Shravankumar Khedia and Santosh Kumar Purohit as Independent Directors. The appointments were approved by shareholders at the company's 19th Annual General Meeting held on September 30, 2026.

Both directors were appointed for a term of five consecutive years, effective from August 24, 2026, through August 23, 2031. The company confirmed that both individuals meet the independence criteria prescribed under the Companies Act, 2013, and SEBI Listing Regulations. Neither director is related to any existing directors of the company, nor are they debarred from holding office by any statutory authority.

Director profiles and expertise

The newly appointed directors bring diverse professional backgrounds to the board, spanning corporate governance and civil engineering consultancy.

Khedia possesses over 13 years of experience in taxation, corporate law, and regulatory frameworks. Her expertise includes advising on board processes, compliance management, and risk assessment. Purohit holds a Bachelor of Engineering in Civil Engineering and brings over 35 years of experience in construction and technical consultancy. His background includes evaluating construction works against applicable technical standards and regulatory requirements.

Governance implications

The addition of these independent directors strengthens the board's oversight capabilities. The inclusion of a qualified Company Secretary enhances the board's capacity to manage regulatory compliance and corporate governance matters. Simultaneously, the appointment of a seasoned civil engineer aligns with the company's core business as construction engineers, providing technical depth to board discussions on project execution and quality control.

Shashijit Infraprojects board has decided not to recommend the removal of Chairman and Managing Director Ajit Jain, despite a shareholder resolution proposing his ouster. The board cited Jain's long-standing association with the company and his strategic contributions to its business development.

The decision follows a special notice received on September 15, 2026, from member Rajesh Kumar Sodhani. Sodhani holds 90,00,000 equity shares, representing approximately 12.38% of the paid-up equity share capital. He invoked Section 115 read with Section 169(2) of the Companies Act, 2013, to propose the removal.

Shareholder Grounds for Removal

In the special notice, Sodhani argued that under the present chairmanship, the company had not performed to its full potential or met public shareholder expectations. He stated that no significant value had been created for shareholders during Jain's tenure, with growth and returns remaining stagnant. The proposing shareholder expressed a loss of confidence in Jain's ability to lead the company toward growth and profitability, advocating for professional leadership and better corporate governance to reorganize the board.

Board Response and Director Representation

At its meeting held on September 21, 2026, the board considered the special notice along with a written representation from Mr. Ajit Jain (DIN: 01846992) under Section 169(4) of the Companies Act, 2013. The directors approved the inclusion of the proposed resolution as Item No. 5 in the special business for the 19th Annual General Meeting scheduled for September 30, 2026.

The board noted that Mr. Ajit Jain has been associated with the company since its inception, providing leadership in construction and infrastructure operations. The board highlighted his role in identifying business opportunities, managing customer relationships, and guiding project evaluation. Consequently, the board is of the view that members should consider the matter based on complete information but explicitly stated that it does not recommend the ordinary resolution for approval.

Director's Defense

Mr. Ajit Jain submitted a written representation stating that the allegations were broad and should be viewed in the context of the company's overall financial position and business cycle. He emphasized his three decades of experience in the construction industry and his continuous involvement in business development and operational matters. Jain argued that continuity in management provides benefits such as existing industry knowledge and stakeholder relationships, while acknowledging the importance of professional governance.

What the Numbers Show

The concentration of voting power is notable in this corporate action. Rajesh Kumar Sodhani’s stake of 12.38% provides him with sufficient equity interest to trigger a special notice under the Companies Act, allowing a single shareholder to place a removal resolution on the ballot without requiring broader initial support from other members.