Wherrelz IT Solutions Reconstitutes Board Committee After Director Resignation

1 min read Updated on 07 Nov 2025, 12:47 AM

Reviewed by

Riya DScanX News Team

Overview

Wherrelz IT Solutions Limited announced the reconstitution of its Nomination and Remuneration Committee during a board meeting on December 23, 2025, following the resignation of Mr. Navin Mukesh Punjani. The new committee comprises three independent directors: Rishi Dharampal Aggarwal as Chairman, and Uma Chidambaram Krishnan and Nitesh Pratapray Mehta as members. This governance update follows the company's earlier positive financial performance for the half-year ending September 30, 2025, which showed revenue of ₹1,278.55 lakhs and net profit of ₹23.35 lakhs, along with previously approved fundraising plans.

*this image is generated using AI for illustrative purposes only.

Wherrelz IT Solutions Limited has announced significant developments following its board meeting held on December 23, 2025. The company's board has reconstituted its Nomination and Remuneration Committee following the resignation of Mr. Navin Mukesh Punjabi. Additionally, the company had earlier approved a plan to raise funds through secured or unsecured loans with an option for conversion into equity shares, subject to shareholder approval.

Committee Reconstitution

The board meeting, which commenced at 05:15 PM and concluded at 05:31 PM at the company's registered office, addressed the reconstitution of the Nomination and Remuneration Committee. The new committee composition includes three independent directors:

Position:	Name	Type	DIN
Chairman:	Rishi Dharampal Aggarwal	Non-Executive Independent	07550675
Member:	Uma Chidambaram Krishnan	Non-Executive Independent	08824361
Member:	Nitesh Pratapray Mehta	Non-Executive Independent	09555034

Previous Financial Performance

The company had earlier reported its unaudited financial results for the half-year ending September 30, 2025, showing improved performance:

Metric:	Amount (₹ in lakhs)
Revenue from Operations:	1,278.55
Total Income:	1,278.61
Total Expenses:	1,253.95
Profit Before Tax:	24.66
Net Profit:	23.35

Balance Sheet Position

As of September 30, 2025, the company's key balance sheet items were:

Item:	Amount (₹ in lakhs)
Total Assets:	4,993.56
Equity Share Capital:	38.96
Other Equity:	(766.03)
Current Liabilities:	1,043.60

Corporate Governance Focus

The reconstitution of the Nomination and Remuneration Committee demonstrates the company's commitment to maintaining strong corporate governance practices. The committee now comprises entirely of independent directors, which aligns with regulatory requirements and best practices for listed companies. This change follows the company's earlier approval of a draft notice for postal ballot and appointment of Mrs. Rupal Patel as Scrutinizer for the postal ballot process.

Strategic Outlook

With the committee reconstitution completed and previous approval for potential fundraising, Wherrelz IT Solutions appears to be strengthening its governance framework while positioning itself for future growth opportunities. The company's return to profitability in the recent half-year results, combined with these governance improvements, may support its strategic initiatives going forward.

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