GTT Data Solutions Limited (formerly known as Cinerad Communications Limited) has announced the appointment of Ms. Pallabi Saboo as an Additional Independent Director, effective September 5, 2025. The appointment, subject to shareholder approval, is for a term of five years.

Appointment Details

The company's Board of Directors approved Ms. Saboo's appointment through a resolution dated September 5, 2025. GTT Data Solutions has confirmed that Ms. Saboo is not debarred from holding the office of Director by any order from SEBI or any other authority.

About Pallabi Saboo

Ms. Saboo brings a wealth of experience to her new role:

• Over 25 years of global business experience
• Founded and scaled organizations with a 29.00% CAGR over two decades
• Successfully founded and exited four companies
• Led over 70 integrations and completed more than 30 restructurings across diverse business categories
• Served on influential boards, including the Virginia Small Business Financing Authority and the U.S. Army Science Board
• Over 15 years of corporate governance and regulatory compliance expertise

Educational Background

Ms. Saboo's educational qualifications include:

• Advanced Management degree from Harvard Business School
• MBA from Virginia Tech
• B.S. in Electronics Engineering

Independence and Relationships

The company has confirmed that Ms. Saboo meets the independence criteria as prescribed under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, she is not related to any existing directors of GTT Data Solutions Limited.

Regulatory Compliance

This appointment has been disclosed in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company has submitted the required details to the BSE Limited, where its shares are listed under the scrip code 530457.

GTT Data Solutions Limited , formerly known as Cinerad Communications Limited, has taken decisive action in response to shareholders failing to meet their payment obligations for a recent rights issue. The company has forfeited 128,955 partly paid-up equity shares with a face value of ₹10 each, following non-payment of the First and Final Call money by the stipulated deadline.

Key Details of the Forfeiture

• Forfeiture Date: July 30, 2025
• Number of Shares Forfeited: 128,955
• Share Type: Partly paid-up equity shares
• Face Value: ₹10 per share
• Deadline for Payment: July 7, 2025
• Approving Body: Rights Issue Committee of the Board of Directors

Background and Process

The forfeiture comes after a series of notices issued by the company:

1. First and Final Call Notice: Issued on April 15, 2025
2. First and Final Reminder-cum-Forfeiture Notice: Sent on June 18, 2025
3. Letter of Offer: Dated January 10, 2025, relating to the rights issue

Despite these reminders, some shareholders failed to pay the required call money by the July 7, 2025 deadline, leading to the forfeiture decision.

Implications for Shareholders

According to the notice sent to defaulting shareholders:

• The forfeiture results in the extinction of all interests, claims, and demands against the company regarding the forfeited shares.
• All rights incidental to the forfeited shares are also extinguished.
• Forfeited shares are now deemed property of GTT Data Solutions Limited.

Company's Next Steps

GTT Data Solutions Limited has informed that:

• Forfeiture notices have been sent to all defaulting shareholders.
• The company retains the right to sell, dispose of, or cancel the forfeiture of these shares on terms it deems fit.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, GTT Data Solutions Limited has duly informed the BSE Ltd. about this forfeiture action. The company's shares are listed on the BSE under the code 530457.

This move by GTT Data Solutions Limited underscores the importance of shareholders meeting their financial obligations in rights issues and demonstrates the company's commitment to maintaining financial discipline and transparency in its operations.