Zeal Aqua Limited has published the notice for its Extraordinary General Meeting (EGM) in leading newspapers, signaling the final procedural steps before seeking shareholder approval for the continued tenure of Whole-Time Director Shantilal Ishwarlal Patel. The company advertised the notice in the English daily "Free Press Gujarat" and the regional language daily "Lokmitra" on August 7, 2026, ensuring wide dissemination to its stakeholder base ahead of the vote scheduled for August 28, 2026.

The publication of the notice is a compliance requirement under Regulation 30 read with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It confirms that the company is proceeding with the special resolution to retain Mr. Patel as a director after he attains the age of 70 years on August 31, 2026. This move is critical for maintaining executive stability, given Mr. Patel’s significant 10.66% shareholding and his pivotal role in the company’s aquaculture and export operations.

Key Details of the Resolution

The Board of Directors approved the proposal during its meeting on August 5, 2026, following a recommendation from the Nomination and Remuneration Committee. Under Section 196(3)(a) of the Companies Act, 2013, shareholder consent is mandatory for continuing the employment of a managing or whole-time director beyond the age of 70. Mr. Patel’s current tenure extends until June 25, 2030, but this regulatory hurdle must be cleared to ensure uninterrupted leadership.

Director Profile and Justification

Shantilal Ishwarlal Patel (DIN: 01362109) has been associated with Zeal Aqua since March 2009. His professional background includes over two decades in steel fabrication and shrimp farming, where he emerged as a prominent figure in Surat district. As a founder member of the Surat Aqua Farmers Association (SAFA), he brings extensive technical expertise in aquaculture and seafood processing.

The explanatory statement highlights that under his guidance, the company has modernized production facilities, improved operational efficiencies, and expanded export activities. He attended all 20 board meetings held during his tenure in FY25. His remuneration remains unchanged at ₹3,00,000 per month. The Board emphasized that his knowledge of regulatory environments and international markets continues to provide immense value to stakeholders. Additionally, Mr. Patel is the father of Dhaval Shantilal Patel, who also serves as a Whole-Time Director.

What the Numbers Show

The retention of a promoter-director with a 10.66% holding underscores the family-controlled nature of Zeal Aqua’s governance. With no change proposed to his remuneration or tenure terms, the move appears focused purely on regulatory compliance rather than structural adjustment. For shareholders, the vote represents a confirmation of the existing management strategy, relying on long-standing leadership rather than fresh executive appointments.

Zeal Aqua Limited has appointed Manish R. Patel as its Secretarial Auditor for the financial year 2025-26. The company’s Board of Directors approved the appointment during a meeting held on August 5, 2026, in Surat. This decision fills a casual vacancy that arose following the resignation of the previous auditor, M/s. JDM & Associates LLP.

The appointment was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in its disclosure to the Bombay Stock Exchange.

Manish R. Patel is a Practicing Company Secretary with Membership No. F19885 and Certificate of Practice No. 9360. He brings over 21 years of experience in corporate laws, governance, and compliance, with a specific focus on listed companies across various sectors. Patel became an Associate Member of the Institute of Company Secretaries of India (ICSI) in 2006 and has been practicing in Surat since 2009.

Appointment Details

The key details of the regulatory filing are outlined below:

The disclosure confirms that there are no relationships between the appointed auditor and the directors of the company. Additionally, Mr. Patel holds no shares in Zeal Aqua Limited. The intimation was signed by Anita Digbijay Paul, the Company Secretary and Compliance Officer of Zeal Aqua Limited.