IFL Enterprises Appoints Ashish Shukla as Additional Executive Director

IFL Enterprises Limited has announced the appointment of Mr. Ashish Jashvantbhai Shukla as Additional Executive Director, effective December 13, 2025. The appointment was approved through a board resolution passed during a meeting held on December 13, 2025, following recommendations from the Nomination and Remuneration Committee.

Director Appointment Details

The board has formally appointed Mr. Ashish Jashvantbhai Shukla to strengthen its executive leadership structure. The appointment is subject to shareholder approval as per regulatory requirements.

Parameter	Details
Director Name	Mr. Ashish Jashvantbhai Shukla
DIN	11425984
Position	Additional Executive Director
Effective Date	December 13, 2025
Approval Status	Subject to Shareholder Approval

Professional Background

Mr. Ashish Jashvantbhai Shukla brings valuable qualifications to his new role as Additional Executive Director. He is a commerce graduate with a strong academic background from Gujarat University, contributing analytical thinking, financial understanding, and disciplined professionalism to the company's leadership team.

Regulatory Compliance

The appointment has been made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under Regulation 30. The company has formally communicated this development to BSE Limited with all required disclosures.

Compliance Details	Information
ISIN Code	INE714U01024
BSE Scrip Code	540377
Regulatory Framework	SEBI Listing Regulations 2015
Declaration Status	Not debarred by SEBI or other authorities

Mr. Shukla has been declared free from any debarment orders by SEBI or other regulatory authorities, meeting all requirements for the directorship position. The appointment reflects IFL Enterprises' commitment to strengthening its board composition with qualified professionals who can contribute to strategic decision-making and corporate governance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.89%	0.0%	-11.48%	-53.45%	-41.94%	+10.20%

IFL Enterprises Limited successfully concluded its adjourned 16th Annual General Meeting on December 9, 2025, with shareholders approving all six resolutions presented. The meeting, held at the company's registered office in Ahmedabad, saw participation from 198,893 shareholders on record date, with 36 attending personally and additional participation through remote e-voting.

AGM Resolutions and Voting Results

All resolutions were passed with requisite majority through a combination of remote e-voting and poll voting. The voting period for remote e-voting remained open from December 6 to December 8, 2025.

Resolution Details	Votes in Favor	Votes Against	Approval %
Financial Statements Adoption	14,778,041	2,997,111	83.14%
Consolidated Statements Adoption	14,777,576	2,997,152	83.14%
Director Appointment (Meet Chhatrala)	14,774,960	2,999,768	83.12%
Managing Director Re-appointment	14,775,343	2,999,809	83.12%
Object Clause Alteration	17,774,617	1,111	99.99%
Secretarial Auditor Appointment	14,693,919	3,081,809	82.66%

Key Leadership Appointments

Shareholders approved the appointment of Mr. Meet Sureshbhai Chhatrala (DIN: 10778872) as Executive Director, liable to retire by rotation. Additionally, the re-appointment of Mr. Didawala Akshay Kumar Shailendra (DIN: 11121864) as Managing Director for a five-year term effective from September 8, 2025, was approved.

Business Diversification Initiative

A significant special resolution was passed to alter the company's Memorandum of Association, adding two new business objectives:

Organic Waste Management: The company will engage in collection, segregation, treatment, and recycling of biodegradable waste into compost, bio-fertilizers, biogas, and other eco-friendly products. This includes establishing composting units, waste-to-energy plants, and providing consultancy services.

Environmental Sustainability: The company will diversify into environmentally sustainable sectors including clean energy, green technologies, and resource recovery through investments, strategic partnerships, and allied ventures.

Audit and Governance Updates

Shareholders approved the appointment of M/s. Divya Mohta Associates as Secretarial Auditors for five consecutive years from 2025-26 to 2029-30. This appointment strengthens the company's governance framework alongside the previously reported statutory auditor changes.

Previous Financial Performance Context

The approved financial statements reflect the company's improved performance with total income of ₹851.65 lakhs in Q2 2025 compared to ₹272.93 lakhs in the previous year. However, the financial statements came with auditor disclaimers regarding documentation and verification processes, which the management has committed to addressing.

Scrutinizer Confirmation

Ms. Vishakha Agrawal, Practicing Company Secretary from Indore, served as the scrutinizer for the e-voting process, ensuring transparency and compliance with regulatory requirements under the Companies Act, 2013.

The successful completion of the AGM with strong shareholder support for strategic initiatives positions IFL Enterprises for expansion into sustainable business segments while addressing previous governance concerns.