Veritas (India) Limited , a company listed on the Bombay Stock Exchange, has initiated a postal ballot to seek shareholder approval for two significant corporate actions. The company is proposing to sell assets of its material subsidiary, Verasco FZE, and appoint a new non-executive director.

Asset Sale Proposal

Veritas India is seeking approval for the sale of assets belonging to its material subsidiary, Verasco FZE. The key details of the proposed transaction are as follows:

This asset disposal is significant as it exceeds 20% of the subsidiary's assets, thus requiring special resolution approval from shareholders.

Director Appointment

Simultaneously, the company is seeking shareholder approval for the appointment of Mr. Sunil Sehgal as a Non-Executive Non-Independent Director.

E-Voting Details

Shareholders can participate in the decision-making process through e-voting, scheduled as follows:

Financial Context

To provide context for this corporate action, let's look at some key financial metrics from Veritas India's consolidated balance sheet:

The proposed asset sale of $130 million (approximately ₹975 crore at current exchange rates) represents a significant portion of the company's total assets. This move could potentially impact the company's asset structure and liquidity position.

Conclusion

This postal ballot represents a crucial juncture for Veritas India, as shareholders will decide on a substantial asset sale and a key board appointment. The outcome of this vote could significantly influence the company's strategic direction and financial structure in the coming years.

Veritas (India) Limited , a Mumbai-based company, has announced a significant change in its key managerial personnel. Rakesh Bharucha, the Chief Financial Officer (CFO) of the company, has tendered his resignation, effective November 17, 2025. This development was disclosed by the company in a regulatory filing to the BSE Limited.

Resignation Details

According to the company's intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mr. Bharucha has decided to step down from his role to pursue other professional and personal interests. The resignation will take effect on November 17, 2025, marking the end of his tenure as a key managerial personnel at Veritas (India) Limited.

Impact on Company Structure

The departure of Rakesh Bharucha as CFO represents a notable change in the company's top-level financial management. As a key managerial personnel, the CFO plays a crucial role in overseeing the financial operations and strategy of the organization. The company has not yet announced a successor for the position.

Company's Response

In his resignation letter, Mr. Bharucha expressed gratitude for the opportunities, guidance, and support extended to him during his tenure. He stated, "It has been a privilege to be associated with Veritas (India) Limited, and I am confident that the Company will continue to grow and achieve new milestones."

The company acknowledged Mr. Bharucha's contribution and has initiated the process of finding a suitable replacement for the CFO position. Amit A. Chavan, the Company Secretary & Compliance Officer, signed the regulatory filing on behalf of Veritas (India) Limited.

About Veritas (India) Limited

Veritas (India) Limited is headquartered at Floor-1, Plot-18, Vakil Building, S S Ram Gulam Marg, New Custom House, Ballard Estate, Mumbai 400001. The company is listed on the BSE with the scrip code 512229 and has the CIN L23209MH1985PLC035702.

Investors and stakeholders are advised to monitor further announcements from the company regarding the appointment of a new CFO and any potential impact on the company's financial strategy moving forward.