Esaar (India) Limited has announced a key leadership appointment, strengthening its executive team with the addition of an experienced corporate professional. The appointment comes as part of the company's ongoing governance initiatives and strategic planning efforts.

Board Appointment Details

The Board of Directors of Esaar (India) Limited, at their meeting held on December 23, 2025, approved the appointment of Mr. Shivanshu Pandey as Additional Director (Executive Director) with immediate effect. The decision was made based on the recommendation of the Nomination and Remuneration Committee, following established corporate governance protocols.

Professional Background

Mr. Shivanshu Pandey brings extensive corporate expertise to his new role at Esaar (India) Limited. His professional background encompasses several key areas that align with the company's strategic objectives:

• Governance and regulatory compliance
• Strategic decision-making and planning
• Business management and operations
• Organizational leadership and development
• Board-level oversight and long-term strategic planning

Regulatory Compliance

The appointment has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all necessary disclosures as required under the regulatory framework, including confirmation that Mr. Pandey has no pecuniary relationship, either financially or otherwise, with any existing Directors of the Board.

This appointment reflects Esaar (India) Limited's commitment to strengthening its leadership team with experienced professionals who can contribute to effective governance and strategic growth initiatives.

Esaar (India) Limited has informed BSE Limited about receiving a formal request for promoter reclassification under SEBI regulations. The company filed the intimation on December 10, 2025, regarding a significant corporate governance development.

Promoter Reclassification Request Details

The company received a request dated December 09, 2025, from Dheeraj Shah, seeking reclassification from promoter/promoter group category to public category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Certifications

In his reclassification request, Dheeraj Shah has provided comprehensive certifications confirming his eligibility for the category change. The promoter has certified that he does not hold more than 10% of total voting rights in the company and does not exercise control over company affairs, directly or indirectly.

Key certifications include:

• No special rights with respect to the company through formal or informal arrangements
• Not represented on the board of directors
• Not acting as a key managerial person
• Not a willful defaulter as per RBI guidelines
• Not a fugitive economic offender
• No pending regulatory action

Current Status and Next Steps

Shah has stated that he is not associated with the company's business operations and does not have any influence over business and policy decisions. He confirmed that he is not involved in day-to-day activities nor exercises any control over company affairs.

The reclassification request is now subject to several approval stages:

• Analysis by the Board of Directors of Esaar (India) Limited
• Approval from BSE Limited
• Compliance with all provisions under Regulation 31A of SEBI LODR Regulations
• Other regulatory approvals, confirmations, and consents as specified

Company Information

Esaar (India) Limited, incorporated in 1951, operates from its registered office at Shop No. 06, Prathamesh Avenue, Datta Mandir Road, Malad East, Mumbai. The company's corporate office is located at 101, First Floor, Western Edge I, Western Express Highway, Borivali East, Mumbai. The intimation was signed by Bipin D Varma, Whole-Time Director of the company.