Vaswani Industries Limited announced on May 18, 2026, that its Board of Directors, at a meeting held at 5:00 P.M. and concluding at 6:30 P.M., approved the re-appointment of Mr. Rituraj Peswani (DIN: 00040277) as an Independent Director. Mr. Peswani had served a first term of five consecutive years as Independent Director, which concluded on May 18, 2026, with his office ceasing at the close of business hours on that date. The Nomination and Remuneration Committee, at its meeting held on May 18, 2026, carried out a performance evaluation and, being satisfied with his continued independence, qualifications, skills, expertise, and experience, recommended his re-appointment for a second term.

Based on the NRC's recommendation, the Board appointed Mr. Peswani as an Additional Director in the Non-Executive, Independent Category, effective May 19, 2026, pursuant to Sections 149, 150, 152, and 161 of the Companies Act, 2013. The re-appointment is for a second term of five consecutive years commencing from May 19, 2026, subject to shareholder approval by way of Special Resolution. As required under Regulation 17(1C) of the SEBI (LODR) Regulations, 2015, such approval must be obtained at the ensuing Annual General Meeting or within three months from May 19, 2026, whichever is earlier. The company confirmed that Mr. Peswani is not related to any Director or Key Managerial Personnel and is not debarred from holding the office of Director by any regulatory authority.

Director Profile

Mr. Rituraj Peswani holds a Master's Degree in Commerce (M.Com.) and possesses more than 20 years of experience in the steel and iron industry. He has extensive knowledge and expertise in the trading of steel and allied products, with a deep understanding of market dynamics, business operations, and industry practices. The Board noted that his vast industry experience and commercial acumen bring significant value and strategic insight to the company.

Appointment Details

The key details regarding the appointment and re-appointment of Mr. Peswani are outlined below.

Committee Memberships

The Board confirmed that Mr. Peswani's membership in various committees will continue uninterrupted effective May 19, 2026, in his capacity as an Additional Director in the Non-Executive Independent Director category, with no change in the constitution of these committees.

Vaswani Industries Limited has filed its quarterly compliance certificate with stock exchanges, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.

Regulatory Compliance Filing

The company submitted the compliance certificate to both BSE Limited and National Stock Exchange of India Limited on April 15, 2026. The filing was made pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Share Capital Status

Vaswani Industries confirmed that the entire share capital of the company is held in dematerialised form. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), verified that no dematerialisation or rematerialisation requests were received or processed during the quarter ended March 31, 2026.

Compliance Certificate Details

MUFG Intime India Private Limited issued the compliance certificate on April 3, 2026, confirming adherence to regulatory requirements. The certificate stated that securities received from depository participants for dematerialisation were properly confirmed to depositories and listed on relevant stock exchanges.

Administrative Details

The compliance certificate was signed by Company Secretary Sakshi Agrawal from the company's Raipur office. MUFG Intime India Private Limited's Sr. Vice President-Corporate Registry Ashok Shetty signed the confirmation certificate, ensuring all regulatory protocols were followed.

Since no dematerialisation or rematerialisation activities occurred during the quarter, the provisions of Regulation 74(5) were technically not applicable. However, the company obtained and filed the certificate solely for compliance purposes, demonstrating its commitment to regulatory adherence.