Ghushine Fintrade Ocean Limited announced comprehensive corporate restructuring decisions following its Board of Directors meeting held on February 03, 2026. The board approved multiple strategic initiatives aimed at business expansion and operational enhancement, all subject to shareholder approval through postal ballot.

Business Expansion Through MOA Amendments

The board approved significant alterations to the company's Main Object Clause by inserting two new clauses to expand business operations. The amendments enable the company to enter renewable and clean energy generation, including solar power projects, EPC/EPCC activities, energy storage systems, and power trading. Additionally, the company can now undertake agro-based and food processing, manufacturing, trading, and allied activities.

Authorised Share Capital Enhancement

The board sanctioned a substantial increase in the company's authorised share capital to support future growth initiatives. The capital structure modification requires shareholder approval in the upcoming postal ballot meeting.

Leadership and Governance Changes

The board addressed key personnel transitions to strengthen corporate governance. Mrs. Bhaviniben Jagdishbhai Lankapati (DIN: 07315285) resigned from her position as Independent Director effective February 03, 2026. The board acknowledged her valuable contributions during her tenure.

Subsequently, the board approved the appointment of Mr. Sagar Kumbhani (DIN: 00809110) as Non-Executive Independent Director for a five-year term from February 03, 2026, to February 02, 2031. Mr. Kumbhani brings over 25 years of extensive experience in construction and building sectors, holding a Bachelor of Commerce degree from Veer Narmad South Gujarat University.

Statutory Auditor Transition

The board managed a transition in statutory auditors following the resignation of the existing firm. M/s. APMM & Co., Chartered Accountants (Firm Registration Number: 147804W), tendered their resignation dated January 27, 2026, citing pre-occupation with other professional assignments.

The board appointed M/s. A R G S & Associates, Chartered Accountants (FRN: 104035W) to fill the casual vacancy. The new auditor will serve from February 03, 2026, until the conclusion of the ensuing Annual General Meeting in 2026.

Additional Approvals

The board approved the appointment of Mr. Abbas Jawadwala, Practising Company Secretary (Membership no. 40723), as Scrutinizer for conducting the postal ballot process. The board also approved the postal ballot notice for seeking member approval on the aforementioned matters. All proposed changes require shareholder approval through the postal ballot mechanism as per applicable regulations.

The board meeting commenced at 03:30 P.M. and concluded at 04:30 P.M., with all decisions made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ghushine Fintrade Ocean Limited has announced the resignation of its statutory auditor M/s. APMM & CO., Chartered Accountant, effective January 27, 2026. The company informed the Bombay Stock Exchange of this development through a formal communication dated January 28, 2026, in compliance with regulatory requirements.

Auditor Resignation Details

The auditing firm APMM & CO., with Firm Registration Number 147804W, submitted their resignation letter on January 27, 2026. The firm cited their inability to continue as the statutory auditor due to preoccupation with other assignments as the primary reason for stepping down.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulation, 2015, read with SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019. The company has provided all required details as mandated under Schedule III of the Listing Regulations and relevant SEBI circulars.

Company Information

Ghushine Fintrade Ocean Limited operates under the equity script code 539864 on the Bombay Stock Exchange, with ISIN INE009U01011. The company is registered in Surat, Gujarat, and the announcement was signed by Alok Jain, Managing Director and Compliance Officer (DIN: 00006643).

The resignation represents a routine corporate governance matter, with the company fulfilling its obligation to inform stakeholders about changes in key appointments. The company has attached the resignation letter and relevant annexures as part of its comprehensive disclosure to the stock exchange.