Varvee Global Limited has announced the resignation of its Chief Financial Officer and Key Managerial Personnel, Mr. Jignesh Parmar, effective April 30, 2026. The company filed the regulatory disclosure on April 2, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details

Mr. Jignesh Parmar submitted his resignation letter on April 2, 2026, citing better opportunities elsewhere as the primary reason for his departure. His last working day with the company will be April 30, 2026.

Regulatory Compliance

The company has fulfilled its regulatory obligations by notifying both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) about this key personnel change. The disclosure includes all required details under SEBI regulations, including the reason for cessation and effective date.

Transition Commitment

In his resignation letter, Mr. Parmar expressed gratitude to the Board and company for the opportunities provided during his tenure. He has committed to ensuring a smooth transition during his remaining period with the organization. The departing CFO also requested the company to file necessary regulatory forms with the Registrar of Companies and relevant authorities to update this change.

Company Background

Varvee Global Limited, formerly known as Aarvee Denims and Exports Limited, continues its operations while managing this leadership transition. The company secretary, Abira Mansuri, signed the regulatory filing on behalf of the organization.

Varvee Global Limited has successfully completed its postal ballot process for the adoption of a new set of Articles of Association, with shareholders demonstrating overwhelming support for the special resolution. The company announced the results on March 20, 2026, following the completion of the e-voting process that concluded at 5:00 PM on the same day.

Regulatory Disclosure and Amendment Rationale

Pursuant to Regulation 30 of the SEBI Listing Regulations, Varvee Global Limited formally disclosed the amendments to its Articles of Association to both BSE and NSE. The company cited significant changes in control and management as the primary driver for the comprehensive revision of its governance framework.

The new management identified that certain provisions in the existing Articles of Association were no longer relevant and required deletion or modification. Additionally, evolving business requirements necessitated greater flexibility and clarity in the company's governance framework to align with current legal and regulatory developments under the Companies Act, 2013.

Voting Results and Shareholder Participation

The postal ballot witnessed significant shareholder participation, with detailed voting statistics reflecting strong corporate governance engagement.

Category-wise Voting Breakdown

The voting results showed strong support across all shareholder categories, with promoters and institutional investors providing unanimous backing.

E-Voting Process and Timeline

The postal ballot was conducted entirely through electronic means, following regulatory guidelines and ensuring transparency throughout the process. The e-voting period remained open from February 19, 2026 at 9:00 AM to March 20, 2026 at 5:00 PM. Mr. Tapan Shah, Company Secretary (Membership Number 4476), served as the scrutinizer for the voting process, appointed by the Board of Directors on February 18, 2026.

Scrutinizer Report and Validation

The scrutinizer's report confirmed the validity of the voting process with comprehensive oversight. Mr. Tapan Shah validated that 36 total voters participated, with 33 voting in favour and 3 voting against the resolution. The votes were unblocked after the conclusion of the e-voting period and witnessed by two independent witnesses.

The successful completion of this postal ballot marks an important milestone in Varvee Global Limited's corporate governance journey, with the new Articles of Association expected to enhance the company's operational framework and regulatory compliance structure in alignment with current statutory provisions and business requirements.