Veritas India Limited announced significant organizational changes following its Board of Directors meeting held on February 05, 2026. The company approved key management appointments and board restructuring alongside its previously reported Q3FY26 financial results, demonstrating continued corporate governance strengthening.

Board Appointments and Key Changes

The Board approved several important organizational changes effective February 05, 2026. Mr. Jayaramakrishnan Kannan was appointed as Additional Director in the category of Non-Executive Independent Director for a five-year term, subject to shareholder approval through postal ballot. The company also appointed Mr. Narendra Vala as Chief Financial Officer, strengthening its financial management team.

New Director Profile and Expertise

Mr. Jayaramakrishnan Kannan brings extensive industry experience, having retired from TCS as Vice President, Head – Global Alliances. He currently serves on boards of multiple companies including AiQOD, Mitraa, Amitech, Manisha Soft Solutions and Pillar Rocks. With around 40 years in the IT Industry and over 30 years with Tata Consultancy Services, he holds a post graduate degree in Management with specialization in Systems and Marketing from Bajaj Institute of Management, Mumbai.

CFO Appointment and Qualifications

Mr. Narendra Vala, the newly appointed Chief Financial Officer, is a Chartered Accountant with 11 years of experience in the manufacturing industry. His expertise spans corporate accounting, banking & fund management, statutory audits, taxation, and working capital management, positioning him well to support the company's financial operations and strategic initiatives.

Postal Ballot and Shareholder Approval

The Board approved conducting a postal ballot to seek shareholder approval for Mr. Jayaramakrishnan Kannan's appointment as Independent Director. The postal ballot notice dated February 05, 2026, will include a special resolution for his appointment, to be passed through remote e-voting mechanism, ensuring transparent shareholder participation in the governance process.

Updated Key Managerial Personnel

Following these changes, the company's updated Key Managerial Personnel authorized for determining materiality and making stock exchange disclosures includes Mr. Paresh Merchant as Managing Director, Mr. Narendra Vala as Chief Financial Officer, and Mr. Amit A. Chavan as Company Secretary & Compliance Officer. The Board meeting commenced at 5:00 PM and concluded at 5:35 PM on February 05, 2026.

Veritas (India) Limited has officially declared the results of its postal ballot process, confirming shareholder approval for both proposed resolutions through remote e-voting. The company announced the results on January 7, 2026, following the conclusion of the voting period on January 5, 2026.

Postal Ballot Process Overview

The remote e-voting process saw significant shareholder participation, with votes representing 63.95% of the company's total outstanding shares. The postal ballot was conducted in accordance with regulatory requirements and MCA circulars.

Asset Sale Resolution Results

Shareholders overwhelmingly approved the special resolution for the sale of assets belonging to material subsidiary Verasco FZE. The resolution received strong support despite mixed response from public non-institutional shareholders.

The transaction involves the sale of assets valued at $130 million with liabilities of $80 million, resulting in a net consideration of $50 million from buyer Inergy FZE.

Director Appointment Resolution

The ordinary resolution for appointing Mr. Sunil Sehgal (DIN: 02561520) as Non-Executive Non-Independent Director received near-unanimous approval across all shareholder categories.

Scrutinizer's Validation

Mr. Jignesh M. Pandya of M/s. Jignesh M. Pandya & Co., appointed as scrutinizer, validated the voting process and confirmed both resolutions were passed with requisite majority. The scrutinizer's report noted that 39,53,536 votes from 14 corporate shareholders were deemed invalid due to non-receipt of requisite board resolutions or proper authorization.

Regulatory Compliance

The postal ballot process was conducted in compliance with SEBI Listing Regulations, Companies Act 2013, and MCA circulars. The voting results and scrutinizer's report have been made available on the company's website and NSDL's e-voting platform for stakeholder reference.

With both resolutions now approved, Veritas India can proceed with the asset sale transaction and formalize Mr. Sehgal's board appointment, marking significant corporate developments for the trading company.