Tierra Agrotech approved the resignation of non-executive director Jayaram Prasad Munnangi during its board meeting on September 1, 2026. The company also scheduled its 13th annual general meeting for September 30, 2026.

Munnangi stepped down due to personal commitments, effective at the closing hours of September 1, 2026. He confirmed there were no other material reasons for his departure.

Board Decisions

The board reconstituted the Nomination and Remuneration Committee and the Risk Management Committee following the resignation. Sateesh Kumar Puligundla will chair the Nomination and Remuneration Committee. Srinivasa Rao Paturi will chair the Risk Management Committee.

Committee Composition

Annual General Meeting

The company resolved to hold its 13th AGM on September 30, 2026, at 1:00 pm through video conferencing or other audio-visual means. The board approved the notice and e-voting schedule for the meeting.

Mrs. N. Vanitha, a practicing company secretary, was appointed as the scrutinizer for e-voting. The board also approved the directors' report for the fiscal year ended March 31, 2026.

Tierra Agrotech received an observation letter from BSE on July 13, 2026, regarding its composite scheme of arrangement with Nishpra Community Solutions Private Limited. The scheme, approved by the board on January 12, 2026, involves the transferor company Nishpra Community Solutions and the transferee company Tierra Agrotech under Sections 230 to 232 of the Companies Act, 2013. The observation letter follows the company's application filed with BSE on January 13, 2026, under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SEBI provided specific comments in its letter dated June 25, 2026, directing the listed entity to ensure comprehensive disclosures. The company must disclose all details of ongoing adjudication, recovery proceedings, and enforcement actions against the company, its promoters, or directors before the National Company Law Tribunal (NCLT) and shareholders. Additionally, any additional information submitted to the stock exchange post-filing must be displayed on the websites of the listed entity and the exchanges.

The market regulator emphasized that financials used in the scheme, including those for the valuation report, must not be older than six months. SEBI also advised that information regarding unlisted companies involved in the scheme be included in the format specified for an abridged prospectus in the explanatory statement sent to shareholders. The proposed equity shares issued under the scheme must be in demat form only.

A key requirement involves the disclosure of the shareholding pattern of the promoter group and public shareholders before and after the implementation of the scheme. The observation letter notes that the scheme will result in an increase in the shareholding of the Promoter/Promoter Group. Consequently, the company must provide a brief explanation regarding the reasons for this increase and its impact on public shareholders' rights and the value of their holdings.

The company is also required to disclose details of assets, liabilities, net worth, and revenue of the involved companies pre and post-scheme. Other mandatory disclosures include the impact on revenue-generating capacity, the rationale and synergies of the business, and the basis of valuation including projections. The validity of the BSE observation letter is six months from the date of the letter, within which the scheme must be submitted to the NCLT.