Swadeshi Industries and Leasing Ltd has scheduled its 42nd Annual General Meeting for September 15, 2026. The meeting will address significant corporate governance changes, including a proposed name change and expansion into new business verticals.

The company will hold the meeting via Video Conferencing or Other Audio-Visual Means from its registered office in Mumbai. Shareholders holding shares as on the record date of September 4, 2026, are eligible to vote.

Strategic Expansion and Name Change

The board proposes changing the company’s name from Swadeshi Industries and Leasing Ltd to either Swadeshi Industries Limited or Swadeshi Industries and Retail Limited, subject to Registrar of Companies approval. This rebranding aligns with an alteration to the Memorandum of Association (MOA) to permit entry into diverse sectors.

The proposed MOA amendments allow the company to operate in:

• Mining and minerals processing
• Textiles and apparel manufacturing
• Ferrous and non-ferrous metals trading
• Renewable energy generation and EPC contracts
• Electric vehicle manufacturing and charging infrastructure
• Logistics, warehousing, and cold chain storage

Board Appointments

Shareholders will vote on the appointment of two independent directors for five-year terms:

Mrs. Jayshree Radheshyam Sharma retires by rotation and offers herself for reappointment. The board also proposes appointing CS Dipika Kataria as Secretarial Auditor for five financial years.

Financial Authorizations

The agenda includes special resolutions to authorize investments up to ₹25 crore in other bodies corporate. Additionally, shareholders must approve loans, guarantees, or security up to ₹25 crore for entities where directors have an interest, pursuant to Section 185 of the Companies Act, 2013.

What the Numbers Show

The authorization of ₹25 crore for both external investments and related-party loans indicates a strategic shift toward active capital deployment. This aligns with the broadened MOA, suggesting management intends to fund entry into the newly approved sectors such as renewable energy and electric mobility through these authorized channels.

Swadeshi Industries and Leasing Limited has appointed Rajeev Ranjan Sarkari as an Additional Independent Director, effective August 12, 2026. The appointment was approved by the Board of Directors in a meeting held on the same date, pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

Sarkari will hold office until the date of the next Annual General Meeting or the last date on which the meeting should be held, whichever is earlier. He brings over 35 years of leadership experience in artificial intelligence, digital governance, cybersecurity, and defence technologies.

Leadership Profile

Sarkari’s professional background includes significant roles in public sector modernization and enterprise transformation. His core expertise spans:

• Artificial intelligence and emerging technologies
• Digital governance (e-governance)
• Cybersecurity and cyber defence
• Defence and aerospace technologies
• Space technologies and satellite systems

He currently serves as Chief Executive Officer at Kristellar Aerospace Pvt. Ltd., leading strategic research in indigenous technologies such as cognitive electronic warfare and advanced radar systems. Previously, he served as Director at AISL (2023–2024) and Chief Executive Officer of e-Governance at Vakrangee Limited (2015–2022).

Earlier in his career, Sarkari led the implementation of the Ministry of Corporate Affairs (MCA21) National e-Governance Project at Tata Consultancy Services (TCS). He also established international operations for Vakrangee e-Solutions in Manila, managing a workforce of more than 7,500 professionals.

Other Board Appointments

The board also appointed Nitinkumar Radheshyam Sharma as Chief Executive Officer and Key Managerial Personnel, effective August 12, 2026. Sharma possesses experience in business development, account management, strategy management, profitability management, budgeting, cost optimisation, go-to-market strategies, retail management, industrial relations, and legal representation.

The company disclosed that Sharma is not related to any directors, key managerial personnel, promoters, or promoter group of Swadeshi Industries. He does not have any peculiar relationship with the company.

Auditor Appointments

Swadeshi Industries also changed its internal and secretarial auditors during the same board meeting.

The company appointed M/s HRJ & Associates as its Internal Auditor. The firm is described as a well-established Chartered Accountancy practice with expertise in audit, accounting, taxation, and related financial services.

Mrs. Dipika Kataria (C.P. 9526) was appointed as Secretarial Auditor. She is a reputed company secretary with more than 16 years of experience conducting secretarial audits for listed entities. Her expertise covers Corporate Laws, SEBI Regulations, and FEMA Regulations, including due diligence audits, IPOs, takeover compliance, and compliance audits for listed and unlisted entities.