TTI Enterprise accepted the resignations of Managing Director Sabu Thomas and Independent Director Shashank Suhalka on July 2, 2026. The board simultaneously appointed Mithun Wales as the new Managing Director and Nikhil Gehlot as an Independent Director to fill the vacancies, subject to shareholder approval. These changes necessitated the reconstitution of the company's key board committees.

Sabu Thomas resigned as Managing Director, Director, and Key Managerial Personnel citing personal reasons and an inability to devote the required time and attention to his duties. Shashank Suhalka stepped down as Independent Director due to preoccupation and other professional commitments. Both directors confirmed there were no material reasons for their resignations beyond those stated in their letters.

Following the recommendations of the Nomination and Remuneration Committee, the board approved the appointment of Mithun Wales as an Additional Executive and Managing Director for a period of five years effective July 2, 2026. The company also appointed Nikhil Gehlot as an Additional and Independent Director for an initial term of five years from the same date. The board confirmed that Gehlot meets the independence criteria provided under Section 149(6) of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Board Composition and Profiles

Mithun Wales is a seasoned finance and business leader with experience in auditing, banking consultancy, corporate finance, and digital business management. He holds a Bachelor of Commerce (Honours) degree, completed CA Intermediate in 2009, and acquired a Post Graduate Diploma in Business Management in Construction and Project Management from NICMAR, Pune. Nikhil Gehlot is a detail-oriented accounting professional with a Master's degree in Commerce and experience in data management, reporting, and financial documentation. Neither appointee is related interse to any other director of the company as of the appointment date.

Committee Reconstitution

Consequent upon the appointments and resignations, the board reconstituted the Nomination & Remuneration and Stakeholder's Relationship committees effective July 2, 2026.

Nomination and Remuneration Committee

Stakeholder Relationship Committee

The appointments of Wales and Gehlot are subject to the approval of the members at the ensuing Annual General Meeting.

tti enterprise has closed its trading window for securities effective Wednesday, July 01, 2026. The closure will remain in effect until 48 hours after the declaration of the unaudited financial results for the quarter ended June 30, 2026. This restriction applies to all designated persons and their immediate relatives to prevent potential insider trading.

The decision aligns with the company's Code of Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and their Immediate Relatives. These guidelines are framed pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015. The company has formally intimated the designated persons to refrain from trading in its securities during this period.

The board meeting for the approval of the unaudited financial results for the first quarter ended June 30, 2026, is scheduled to be intimated in due course. The specific date for this meeting has not yet been disclosed.

Key Details

The intimation was submitted to The BSE Limited on June 23, 2026, by Hemant Agarwal, Executive Director of TTI Enterprise Limited.