Sun Retail Limited has announced significant changes to its board composition and committee structure following a board meeting held on March 24, 2026. The company appointed a new director and reconstituted its key governance committees to strengthen its organizational framework.

Director Appointment

The board of directors appointed Mr. Rajesh Chinubhai Sutaria (DIN: 02102686) as an Additional Non-Executive Non-Independent Director effective March 24, 2026. The appointment was made based on the recommendation of the Nomination and Remuneration Committee and is subject to approval by shareholders at the upcoming Annual General Meeting.

Mr. Sutaria brings extensive experience as a warehouse and logistics professional with proven expertise in inventory management, supply chain optimization, and team leadership. His background includes skills in streamlining warehouse operations, improving efficiency, and ensuring timely, cost-effective deliveries with a focus on accuracy, safety, and continuous process improvement.

Committee Reconstitution

Following the board changes, the company reconstituted three key committees effective March 21, 2026. The restructured committees ensure proper governance and compliance with regulatory requirements.

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Regulatory Compliance

The board meeting was conducted from 04:15 P.M. to 04:40 P.M. on March 24, 2026. All decisions were made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Sutaria is not debarred from holding the office of director by virtue of any SEBI order or other regulatory authority, and he has no inter-se relationships with other board members.

The appointment and committee reconstitution reflect the company's commitment to maintaining strong corporate governance standards and ensuring effective oversight of its operations across key functional areas.

Sun Retail Limited has announced the resignation of Mr. Rakesh Nareshchandra Kapadia from his position as Non-Executive Director, effective March 19, 2026. The company disclosed this development to the Bombay Stock Exchange in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The resignation was formally communicated through a regulatory filing signed by Dharamjit Bhupatsinh Mori, Whole-Time Director and CFO of Sun Retail Limited. The disclosure was made pursuant to the listing regulations and includes all required documentation as per SEBI guidelines.

Regulatory Compliance

The company has fulfilled all regulatory requirements under Regulation 30 of the SEBI (LODR) Regulations. The disclosure includes comprehensive details as mandated by Schedule III of the listing regulations, ensuring complete transparency regarding the directorial change.

The resignation letter submitted by Mr. Kapadia requests the board to complete all necessary filings and formalities as required under the provisions of the Companies Act, 2013. He expressed gratitude to the management and fellow directors for their support and cooperation during his tenure.

Company Response

Sun Retail Limited has accepted the resignation and completed the required regulatory disclosures to the stock exchange. The company has taken the resignation on record and will proceed with necessary compliance procedures following the directorial change.

The resignation takes immediate effect from March 19, 2026, marking the end of Mr. Kapadia's association with the company's board. Sun Retail Limited continues its operations with the remaining board members while ensuring adherence to corporate governance standards.