Toyam Sports Appoints New Independent Director Following Committee Recommendation

Toyam Sports Limited has concluded its board meeting held on December 15, 2025, at the company's registered office, resulting in significant changes to its board composition. The meeting, which commenced at 5:00 PM and concluded at 7:15 PM, addressed key corporate governance matters including director appointments and resignations.

Board Meeting Outcomes

The company's board of directors transacted important business during the December 15, 2025 meeting, focusing on board composition changes following the Nomination and Remuneration Committee's recommendation:

Committee Recommendation Process

The Nomination and Remuneration Committee of the Board of Directors at its meeting held on December 15, 2025, recommended the appointment of Mr. Cheerag Kumar J Jain as a Non-Executive Independent Director of the company. The board subsequently considered and approved this recommendation with effect from December 15, 2025.

New Director Profile

Mr. Cheerag Kumar J Jain brings substantial expertise to the board with his educational background and professional experience. He holds a B.Com degree and has cleared the CA Inter level, accumulating over 10 years of experience in tax and finance advisory roles.

His extensive experience includes working closely with business and professional service teams to resolve complex finance issues and negotiate terms and conditions for final financial contracts.

Corporate Governance and Compliance

The board also formally acknowledged the resignation of Mr. Kailas Yadav Tilkoo from his position as Executive Director, submitted through his resignation letter dated September 10, 2025. This resignation was officially noted during the December 15, 2025 board meeting.

The company has confirmed that Mr. Cheerag Kumar J Jain is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority, in accordance with the circular dated June 20, 2018, issued by the Stock Exchanges. The term of his appointment as an independent director will be next ensuing general meeting of the company.

Regulatory Compliance

Company Secretary Nayan Sablok has communicated the board meeting outcomes to both the Bombay Stock Exchange and The Metropolitan Stock Exchange of India Limited on December 18, 2025, ensuring compliance with Regulation 30 requirements. Toyam Sports trades under security code 538607 with security ID TOYAMSL on the respective exchanges.

The appointment of Mr. Cheerag Kumar J Jain as Non-Executive Independent Director demonstrates the company's commitment to strengthening its board composition and enhancing corporate governance practices in line with applicable regulatory requirements.