Swati Projects Limited has provided clarification regarding leadership changes following its board meeting held on February 24, 2026. The company addressed the resignation of its Managing Director while confirming continued board participation in a different capacity.

Leadership Transition Details

The company clarified that Mr. Shreegopal Daga has stepped down from his executive role as Managing Director. However, his association with the company continues as he transitions to a non-executive position on the board.

Regulatory Communication

Swati Projects Limited formally communicated this clarification to multiple stock exchanges where its shares are listed. The notification was sent to ensure proper disclosure and regulatory compliance.

Exchange Notifications

The company addressed its communication to:

• BSE Limited (Scrip Code: 543914)
• Calcutta Stock Exchange (Scrip Code: 029458)
• Metropolitan Stock Exchange of India Limited (Symbol: SWATI)

Board Composition Impact

The leadership change represents a transition from executive to non-executive responsibilities while maintaining board continuity. Mr. Daga's continued presence as a promoter director ensures ongoing strategic involvement despite stepping back from day-to-day management responsibilities.

The clarification was signed by Ravi Todi, Wholetime Director (DIN: 11511076), emphasizing the company's commitment to transparent communication with stakeholders and regulatory authorities regarding significant corporate developments.

Swati Projects Limited has announced a significant leadership change with the resignation of its Managing Director, effective immediately. The company communicated this development to stock exchanges following a board meeting held on February 24, 2026, in compliance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Resignation Details and Reasons

The Board of Directors took note of Mr Shreegopal Daga's resignation from his position as Managing Director, with the resignation taking effect from February 24, 2026. According to the company's disclosure, Mr Daga, who is 86 years old, stepped down due to personal reasons, specifically citing health issues. His resignation letter was originally submitted on February 16, 2026, but was accepted by the board with effect from February 24, 2026.

Board Meeting Proceedings

The board meeting that addressed this leadership change commenced at 3:30 PM and concluded at 6:30 PM on February 24, 2026. The company has designated Mr Ravi Todi, Whole Time Director with DIN 11511076, to handle all regulatory formalities associated with the resignation. Mr Todi has been specifically authorized to sign and file Form DIR-12 along with other necessary documents with the Registrar of Companies regarding the director's resignation.

Regulatory Compliance and Disclosures

The company has fulfilled its disclosure obligations by informing all relevant stock exchanges including BSE Limited, Metropolitan Stock Exchange of India Limited, and Calcutta Stock Exchange Limited. The disclosure was made pursuant to Regulation 30 of the Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Information

Swati Projects Limited, incorporated in 1983 with CIN L65993WB1983PLC036332, operates from its registered office at 13, Ganesh Chandra Avenue, 2nd Floor, Room No. 12, Kolkata-700013. The company maintains listings across multiple exchanges and continues its operations under the leadership of its remaining board members following this management transition.