Sri Lotus Developers & Realty Ltd has appointed Paarth Deepak Chheda as its new Executive Director, effective October 1, 2026. The appointment was ratified by shareholders at the company's 12th Annual General Meeting held on September 29, 2026.

Chheda will serve a five-year term extending until September 30, 2031. He is liable to retire by rotation. This leadership change coincides with the resignation of Roopa Anand Pandit, who stepped down as Non-Executive Non-Independent Director on the same date, citing pre-occupation and personal commitments.

Leadership transition details

The board reshuffle involves significant familial ties within the promoter group. Chheda is the son-in-law of Anand Kamalnayan Pandit, the Managing Director and Chairman of the company. He is also the spouse of Ashka Pandit, who serves as an Executive Director. Prior to this appointment, Chheda had been associated with the company for nearly a decade, focusing on technology integration and contemporary design in the firm's portfolio.

Roopa Anand Pandit, who is the wife of Chairman Anand Pandit, ceased to be a member of the Nomination and Remuneration Committee upon her resignation. Her departure marks a shift in the non-executive oversight structure of the realty developer.

Director profiles and roles

The appointment of Chheda reinforces the family-centric management structure typical of many Indian real estate firms. His academic background in architecture from the Illinois Institute of Technology aligns with the company's focus on value addition and design-led development. The simultaneous exit of a senior family member from the non-executive role suggests a consolidation of operational control among the younger generation and the executive team.

Sri Lotus Developers & Realty Limited shareholders approved a final dividend of ₹0.50 per equity share for FY26 during the company's 12th Annual General Meeting held on September 29, 2026.

The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), also ratified the appointment of Mr. Paarth Deepak Chhedda as Executive Director and adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

Key resolutions passed

The following ordinary business items were transacted at the AGM:

Special business included the ratification of cost auditor remuneration for FY27 and the appointment of Mr. Paarth Deepak Chhedda as Executive Director.

TDS applicability on dividend payout

The company issued an intimation regarding Tax Deduction at Source (TDS) on the final dividend, effective under the Income-tax Act, 2025. Resident individual shareholders with a valid Permanent Account Number (PAN) linked to Aadhaar will face TDS at 10%. However, no TDS will be deducted if the aggregate dividend received in a tax year does not exceed ₹10,000, or if the shareholder submits Form No. 121 (erstwhile Form 15G/H) by October 4, 2026.

Shareholders whose PAN is unavailable, invalid, or not linked with Aadhaar will be subject to a higher TDS rate of 20%. Non-resident shareholders may claim benefits under Double Tax Avoidance Agreements (DTAA) by submitting required documents, including Tax Residency Certificates and self-declarations, to the Registrar and Share Transfer Agent (RTA) by the same deadline.

Meeting proceedings and attendance

The AGM commenced at 11:30 am and concluded at 12:16 pm. A total of 44 members representing 34,24,43,493 equity shares, constituting 70.07% of the company's equity share capital, attended the meeting.

Mr. Anand Pandit, Chairman and Managing Director, chaired the session. Key attendees included Mrs. Roopa Anand Pandit (Non-Executive Director), Ms. Ashka Anand Pandit (Whole Time Director), and independent directors Mr. Madhukant Sanghvi, Mr. Ved Prakash Bharadwaj, and Ms. Priti Desai. Mr. Sanjay Kumar Jain served as CEO, and Mr. Rakesh Kailash Gupta as CFO.

Representatives from statutory auditor M/s. T.P. Ostwal & Associates LLP and scrutinizer M/s. Manish Ghia & Associates were present via VC. The company utilized Kfin Technologies Limited for electronic voting facilities, which remained open for an additional 15 minutes post-meeting to accommodate late voters.