Triveni Engineering & Industries Ltd has approved the appointment of six directors to its board, including four independent and two non-executive directors, effective June 4 and July 1, 2026. The board approved the appointments during a meeting held on June 4, 2026, as part of a composite scheme of arrangement involving Sir Shadi Lal Enterprises Limited and Triveni Power Transmission Ltd. The appointments are subject to shareholder approval, which will be sought at the Annual General Meeting scheduled for June 30, 2026.

Independent Director Appointments

The board appointed Mr. Ashwath Ram, Mr. Siraj Azmat Chaudhry, Mr. Mahesh Ram Chand Chhabria, and Ms. Sandhya Vasudevan as Additional (Non-Executive Independent) Directors. Each independent director has been appointed for a term of five consecutive years, effective from June 4, 2026, until June 3, 2031. The appointments are contingent upon approval by the company's shareholders.

Non-Executive Director Appointments

Mr. Nikhil Sawhney was appointed as an Additional (Non-Executive Non-Independent) Director, effective June 4, 2026, subject to shareholder approval. Additionally, the board recommended the appointment of Mr. Dhruv M Sawhney as a Non-Executive Non-Independent Director, effective July 1, 2026. This appointment requires prior approval by shareholders via a special resolution due to the director's age being above 75 years.

Board Committees and Compliance

To comply with the provisions of the Companies Act, 2013, and SEBI LODR regulations, the board constituted the Audit Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee. These measures are in anticipation of Triveni Power Transmission Ltd's proposed listing pursuant to the composite scheme of arrangement.

Director Appointments Summary

Trading in the equity shares of Sir Shadi Lal Enterprises Limited (SSEL) will be suspended effective June 4, 2026, following the fixation of a record date by Triveni Engineering & Industries Limited . The record date of June 3, 2026, has been established to determine the shareholders entitled to receive shares pursuant to a composite scheme of arrangement. This scheme involves Triveni Engineering & Industries Limited, Sir Shadi Lal Enterprises Limited, and Triveni Power Transmission Limited, along with their respective shareholders and creditors.

The composite scheme has been approved by the Hon'ble National Company Law Tribunal (NCLT) under the provisions of Sections 230 to 232 of the Companies Act, 2013. In light of the upcoming record date, necessary steps have been initiated for the suspension and deactivation of the ISIN and trading of SSEL securities. The ISIN number for Sir Shadi Lal Enterprises Limited is INE117H01019, and the stock code is 532879.

The communication regarding the suspension was addressed to BSE Limited, confirming that the trading halt will commence from June 4, 2026. The move ensures that the share register is accurately updated to reflect the entitlements arising from the scheme of arrangement. The record date is critical for identifying the eligible shareholders who will benefit from the corporate restructuring.

Key Details of the Arrangement

The scheme aims to consolidate the operations and structure of the involved entities. Shareholders of Sir Shadi Lal Enterprises Limited are advised to take note of the suspension date and the record date to ensure their entitlements are processed correctly.