Adeshwar Meditex Limited , a manufacturer and trader of medical dressings, bandages, face masks, and PPE kits, has announced significant board changes and committee reconstitution following its board meeting held on December 20, 2025.

Key Board Decisions

The board meeting, which commenced at 12:30 PM (IST) and concluded at 3:40 PM (IST), resulted in several important decisions:

Committee Reconstitution

The company has reconstituted three key committees following the board composition changes:

Audit Committee

Nomination and Remuneration Committee

Stakeholder Relationship Committee

New Director Profile

Mr. Raghupathy Bhat brings over 40 years of experience in government administration, banking, and regulatory functions. His professional journey includes:

He holds a Bachelor of Commerce degree, is a Certified Associate of Indian Institute of Bankers (CAIIB), and has Karnataka Marketing Service (KMS) certification.

Additional Approvals

The board also approved the appointment of Mr. Deep Shukla, Practising Company Secretary, as scrutinizer for the voting process. Additionally, the board authorized the renewal and modification of credit facilities with Union Bank of India, Bhatbazar Branch, Mumbai.

The Extraordinary General Meeting will be held at the company's registered office at Gala 111 Lok Centre, Marol Maroshi Road, Andheri East, Mumbai, where shareholders will vote on the proposed director appointment.

Adeshwar Meditex Limited has announced the demise of Mr. Benegal Parameshwara Udpa, who served as a Non-Executive Independent Director on the company's board. The announcement comes as part of the company's regulatory obligations under SEBI (LODR) Regulations, 2015.

Key Details

Clarification on Delayed Announcement

Adeshwar Meditex Limited provided additional context regarding the timing of their announcement:

1. The company was informed of Mr. Udpa's passing on October 28, 2025, by his family.
2. Upon receiving this information, the company immediately notified the BSE on the same day.
3. The delay between the date of passing and the company's announcement was due to the gap in communication from the director's family.

Regulatory Compliance

In response to a query from BSE dated October 29, 2025, Adeshwar Meditex submitted a detailed clarification on October 30, 2025. The company emphasized its commitment to regulatory compliance, stating that the notification was filed promptly once the information was received.

This incident highlights the challenges companies may face in maintaining timely disclosures, especially in sensitive situations involving the personal circumstances of key personnel. It also underscores the importance of clear communication channels between companies, regulatory bodies, and stakeholders to ensure transparency and compliance with listing obligations.

Adeshwar Meditex Limited continues to adhere to its regulatory responsibilities, as evidenced by its prompt response to the BSE's request for additional information on this matter.