Smartworks appoints Dilip Deshmukh as independent director
- Dilip Deshmukh appointed as Non-Executive Independent Director for five years starting September 22, 2026
- Rajeev Agarwal's designation changed to Non-Executive Independent Director effective June 25, 2026
- Appointments approved at Smartworks' 11th Annual General Meeting held on September 22, 2026
- Deshmukh is a retired Justice and former Chairman of the Company Law Board
- Agarwal is a former Whole Time Member of SEBI and Indian Revenue Service officer
*this image is generated using AI for illustrative purposes only.
Smartworks Coworking Spaces Limited appointed Dilip Deshmukh as a Non-Executive Independent Director for a five-year term. The appointment was approved by members at the company's 11th Annual General Meeting held on September 22, 2026.
The company also confirmed the change in designation of Rajeev Krishnamuralilal Agarwal from Additional Non-Executive Independent Director to Non-Executive Independent Director. This change is effective from June 25, 2026, for a term of five consecutive years.
Board composition updates
Both appointments were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that neither director has been debarred from holding office by any SEBI order or other authority.
| Director | Role | Term Start | Experience Highlights |
|---|---|---|---|
| Dilip Deshmukh | Non-Executive Independent Director | September 22, 2026 | Retired Justice, Former Chairman of Company Law Board |
| Rajeev Agarwal | Non-Executive Independent Director | June 25, 2026 | Former Whole Time Member of SEBI, IRS Officer |
Director profiles
Dilip Deshmukh brings over four decades of experience in the legal and judicial systems. He served as the Chairman of the Company Law Board, now known as the National Company Law Tribunal, and was elevated to the Chhattisgarh High Court as a Judge in 2005. He has also established himself as an arbitrator handling domestic and international cases since retiring in 2015.
Rajeev Agarwal is an Engineering graduate from IIT Roorkee and a former Indian Revenue Service officer of the 1983 batch. He served as a Whole Time Member of SEBI from 2011 to 2016 and as a Member of the Forward Markets Commission from 2005 to 2011. His current directorships include Trust Asset Management, ACC, Paytm, and Paytm Money.
Governance implications
The addition of these directors strengthens the board's expertise in regulatory compliance and corporate law. Deshmukh’s background in corporate adjudication and Agarwal’s tenure at market regulators provide specialized oversight capabilities relevant to the company's operational and compliance framework.
Historical Stock Returns for Smartworks Coworking Spaces
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.19% | +3.81% | +3.20% | +44.37% | -4.19% | +21.33% |
How will Dilip Deshmukh’s judicial background specifically influence Smartworks' strategy regarding ongoing or potential corporate litigation and dispute resolution?
Given Rajeev Agarwal’s current directorships at Paytm and other listed entities, how will the company manage potential conflicts of interest and ensure independent oversight?
What specific regulatory compliance challenges in the Indian coworking sector might these new directors help Smartworks navigate in the coming fiscal year?
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