Veritas re-appoints Paresh Merchant as Managing Director for three years

Veritas (India) Limited has approved the re-appointment of its Managing Director, Mr. Paresh Merchant, for a further term of three years, ensuring continuity in leadership at the helm of the company. The decision, taken during a Board meeting on May 28, 2026, extends Mr. Merchant's tenure starting December 28, 2026, subject to the approval of shareholders at the ensuing Annual General Meeting. The Board also appointed Mr. Murugan Pillai as the Internal Auditor for the financial year 2026-27, reinforcing the company's governance framework.

The re-appointment follows the recommendation of the Nomination and Remuneration Committee. Mr. Merchant, who possesses over 40 years of experience across industries such as textiles, real estate, and energy, is an alumnus of IIM Ahmedabad. He currently serves as the Managing Director of Veritas (India) Limited and holds a position as a Non-Executive Director at Swan Defence and Heavy Industries Limited. The company confirmed that he is not related to any other Director and is not debarred from holding the office of Director by any regulatory authority.

Simultaneously, the Audit Committee recommended the appointment of Mr. Murugan Shanmugan Pillai as Internal Auditor. Mr. Pillai brings over 18 years of expertise in internal audit, risk management, and fraud investigation across sectors including real estate and manufacturing. His appointment is effective for the financial year 2026-27 under Section 138 of the Companies Act, 2013.

Board Decisions and Key Appointments

The Board meeting, which commenced at 5:00 PM and concluded at 6:10 PM, addressed these key governance matters. The disclosures were submitted to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Re-appointment of Managing Director

Particulars	Details
Name	Mr. Paresh Merchant
Designation	Managing Director
Term	3 years
Commencement Date	December 28, 2026
Condition	Subject to shareholder approval

Appointment of Internal Auditor

Particulars	Details
Name	Mr. Murugan Pillai
Designation	Internal Auditor
Tenure	Financial year 2026-27
Experience	18 years in Internal Audit and Risk Management

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.99%	+4.06%	-7.37%	-22.41%	-57.90%	+115.83%

Veritas (India) Limited has officially regularised the appointment of Mr. Jayaramakrishnan Kannan (DIN: 06551104) as Non-Executive Independent Director following the successful completion of its postal ballot process. The company announced the regularisation on April 14, 2026, after shareholders approved the special resolution with overwhelming support on April 13, 2026.

Appointment Details and Term

The regularisation confirms Mr. Kannan's appointment for a first term of five consecutive years, commencing from February 05, 2026, up to February 04, 2031. He was initially appointed as an Additional Director in the capacity of Non-Executive Independent Director on February 05, 2026, subject to shareholder approval.

Appointment Details	Information
Director Name	Mr. Jayaramakrishnan Kannan
DIN	06551104
Initial Appointment Date	February 05, 2026
Term Duration	5 consecutive years
Term End Date	February 04, 2031
Position	Non-Executive Independent Director

Postal Ballot Results and Shareholder Support

The postal ballot results revealed exceptional confidence in the proposed appointment across all shareholder categories. The comprehensive voting statistics demonstrate strong participation and support:

Category	Shares Held	Votes Polled	Participation (%)	Votes in Favour	Votes Against	Support (%)
Promoter and Promoter Group	14,747,161	14,747,161	100.00	14,747,161	0	100.00
Public-Institutions	2,600,236	0	0.00	0	0	0.00
Public-Non Institutions	9,462,603	20,137	0.21	19,812	325	98.39
Total	26,810,000	14,767,298	55.08	14,766,973	325	99.9978

Director Profile and Experience

Mr. Jayaramakrishnan Kannan brings extensive industry experience to the board, having retired from TCS as Vice President, Head – Global Alliances. He currently serves on the boards of AiQOD, Mitraa, Amitech, Manisha Soft Solutions, and Pillar Rocks, while also advising Check Point, Krya, Method Hub, and Mitraa Deep Tech.

Professional Background	Details
Education	Post Graduate in Management (Systems & Marketing)
Institute	Bajaj Institute of Management, Mumbai
Industry Experience	Around 40 years in IT Industry
TCS Tenure	Over 30 years in various positions
Previous Role	Vice President, Head – Global Alliances at TCS
NSDC Involvement	Proposal Approval Committee Member (2016-2024)

Regulatory Compliance and Process

The postal ballot process was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Jignesh M. Pandya of M/s. Jignesh M. Pandya & Co. served as the appointed scrutinizer, ensuring transparency and compliance throughout the voting process.

Process Details	Information
E-voting Period	March 15, 2026 (9:00 AM) to April 13, 2026 (5:00 PM)
E-voting Provider	National Securities Depository Limited (NSDL)
Record Date	March 6, 2026
Total Eligible Shareholders	6,895
Scrutinizer	Mr. Jignesh M. Pandya (CS, Membership No. 7346)

The company has confirmed that Mr. Kannan is not related to any existing directors and has provided confirmation that he is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority. The regularisation strengthens Veritas (India) Limited's board composition and demonstrates strong shareholder confidence in the company's governance decisions.