Sun Retail Limited has announced key changes to its board composition and committee structure following a board meeting conducted on April 16, 2026. The meeting, which lasted from 3:00 PM to 3:30 PM, addressed important governance matters including director appointments and committee reconstitution.

New Independent Director Appointment

The board of directors, acting on the recommendation of the Nomination and Remuneration Committee, appointed Mrs. Khyati Bhavya Shah (DIN: 09430457) as Additional Non-Executive Independent Director with effect from April 16, 2026. This appointment is subject to approval by shareholders at the company's ensuing Annual General Meeting.

Mrs. Shah brings substantial expertise to the board as a qualified Company Secretary with proficiency in Corporate and Allied Laws. She possesses extensive knowledge and experience in finance and corporate law, having successfully handled incorporation of various entities. Her qualifications include B.Com, LLB, and CS with more than 7 years of professional experience. The company confirmed that she has no inter-se relationships with other board members and is not debarred from holding directorship by any regulatory authority.

Director Resignation

The appointment follows the resignation of Nisha Sukhdevbhai Parmar (DIN: 07687423) from her position as Non-Executive Independent Director. Ms. Parmar submitted her resignation letter dated April 15, 2026, citing pre-occupation with work as the reason for her departure. The board acknowledged her resignation and expressed gratitude for her significant contributions to the company's journey.

Committee Reconstitution

Following the board composition changes, the company reconstituted three key committees effective April 16, 2026. The restructuring ensures continued compliance with corporate governance requirements while leveraging the expertise of the new appointee.

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was communicated to the Bombay Stock Exchange Limited along with detailed disclosures as required under Schedule III of the Listing Regulations and SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015.

The communication was signed by Dharamjit Bhupattsinh Mori, Whole-Time Director & CFO (DIN: 08038027), confirming the board's decisions and requesting the exchange to take the information on record.

Sun retail Limited has formally announced the resignation of Mrs. Nisha Sukhdevbhai Parmar from her position as Non-Executive Independent Director, effective April 15, 2026. The company disclosed this information to the Bombay Stock Exchange in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mrs. Nisha Sukhdevbhai Parmar tendered her resignation from the Board of Directors citing pre-occupation with work elsewhere as the primary reason for her departure. In her resignation letter, she confirmed her inability to devote adequate time to the company's affairs, necessitating her decision to step down from the board.

Regulatory Compliance

The resignation disclosure was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, read with Schedule III thereof. Mrs. Parmar provided confirmation that there are no other material reasons, whether financial or otherwise, for her resignation beyond those stated. The company also disclosed that the resigning director currently does not hold any directorship in other listed entities and is not associated with any board committees of such entities.

Board's Acknowledgment

The Board of Directors has placed on record its sincere appreciation for the valuable guidance and contributions made by Mrs. Nisha Sukhdevbhai Parmar during her tenure as an Independent Director. In her resignation letter, Mrs. Parmar expressed gratitude for the faith and cooperation she received during her directorship tenure.

Documentation and Process

The resignation was formally communicated through a letter dated April 15, 2026, addressed to the Board of Directors. The disclosure was signed by Dharamjit Bhupatsinh Mori, Whole Time Director & CFO (DIN: 08038027), and submitted to the Department of Corporate Services at the Bombay Stock Exchange. All necessary documentation, including the resignation letter and regulatory disclosures, has been provided to ensure compliance with listing obligations.