Smartworks Coworking Spaces Ltd has strengthened its governance framework by appointing Mr. Rajeev Krishnamuralilal Agarwal as an Additional Non-Executive and Independent Director effective June 25, 2026. The Board also recommended the appointment of Justice (Retd.) Dilip Deshmukh as a Non-Executive and Independent Director, subject to shareholder approval. These strategic moves aim to bolster the company's oversight with deep expertise in capital markets, financial regulation, and corporate adjudication.

Mr. Rajeev Krishnamuralilal Agarwal is a former Whole-Time Member of the Securities and Exchange Board of India (SEBI) and an Indian Revenue Service (IRS) officer from the 1983 batch. During his tenure at SEBI, he oversaw key policy areas including securities markets, mutual funds, and enforcement. He played a pivotal role in regulatory reforms such as the introduction of the Offer for Sale (OFS) mechanism. Mr. Agarwal currently serves on the boards of several listed and financial services companies.

Justice (Retd.) Dilip Deshmukh brings over four decades of judicial and corporate adjudication experience. He previously served as the Chairman of the Company Law Board (CLB), now known as the National Company Law Tribunal (NCLT), and as a Judge of the Chhattisgarh High Court. Since retiring in 2015, he has been active in domestic and international arbitration. His appointment is intended to enhance the Board's governance capabilities with his deep expertise in corporate law.

Details of Appointments

The company confirmed that neither appointee is related to any existing director on the Board. The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Smartworks is India’s largest managed office platform by total area under management, with a footprint of ~16.1 million square feet across 66 centres as on March 31, 2026.

NS Niketan LLP, the promoter of Smartworks Coworking Spaces Limited , has declared that no encumbrance was created on the shares held by the promoter group during the financial year ended March 31, 2026. The disclosure, submitted to the stock exchanges, confirms that neither the promoter nor persons acting in concert have pledged or directly or indirectly encumbered their shareholding in the company.

The filing was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations require promoters to disclose any encumbrance on their holdings to ensure transparency for shareholders.

The declaration was signed by Neetish Sarda, the Designated Person for NS Niketan LLP, on April 7, 2026. The confirmation covers the entire promoter group and provides assurance regarding the unencumbered status of their shareholding for the specified financial year.

The document was addressed to the Listing Departments of both exchanges and copied to the Audit Committee of Smartworks Coworking Spaces Limited. The promoter stated that the information is provided to the best of their knowledge with respect to persons acting in concert.