Jaro Institute of Technology Management and Research Limited has notified stock exchanges regarding a structural change in its statutory auditor's business organization. The company informed BSE Limited and National Stock Exchange of India Limited on January 23, 2026, about the conversion of its auditing firm.

Auditor Conversion Details

M S K A & Associates, Chartered Accountants, the company's statutory auditor, has converted its business structure to a Limited Liability Partnership. The conversion was completed under the provisions of the Limited Liability Partnership Act, 2008.

Continuity of Services

The auditing firm will maintain continuity in its professional services to Jaro Institute. M S K A & Associates LLP will continue to function and discharge their obligations as statutory auditors for the remaining period of their current appointment tenure.

Regulatory Compliance

The intimation was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Managing Director Sanjay Namdeo Salunkhe signed the notification to both stock exchanges, ensuring compliance with listing regulations.

The conversion represents a structural change in the auditor's business organization while maintaining the continuity of statutory audit services for the company.

Jaro Institute of Technology Management and Research Limited announced key corporate decisions following its board meeting held on January 21, 2026. The meeting, which commenced at 5:30 PM and concluded at 6:00 PM, addressed significant matters related to employee benefits, board composition, and equity allotments.

New ESOP Scheme 2026 Approved

The board approved the Jaro Education Employees Stock Option Plan 2026, establishing a comprehensive framework for employee stock options. The scheme details are outlined below:

The exercise price will be determined by the Nomination and Remuneration Committee at the time of grant, linked to market price in accordance with applicable law. The committee retains authority to provide suitable discounts, though the exercise price cannot fall below the share's par value of ₹10.00. The scheme requires shareholder approval through postal ballot before implementation.

Independent Director Reappointment

The board recommended reappointment of Mr. Ishan Baveja (DIN: 07251062) as Independent Director for a second term of five years, effective February 4, 2026, subject to shareholder approval.

Mr. Baveja holds a bachelor's degree in commerce from Hemwati Nandan Bahuguna Garhwal University and is a fellow member of the Institute of Chartered Accountants of India. He has been practicing as a chartered accountant since 2013 and serves as partner with M/s Baveja Gupta & Co. since 2015, bringing over 12 years of accounting sector experience. He currently serves as board member of Maasheetla Ventures Limited and Lifestyle & Media Holdings Limited.

Equity Share Allotment Under Existing ESOP

The board approved and allotted 20,050 fully paid-up equity shares of ₹10.00 each upon exercise of options granted under the Jaro Education ESOP Scheme 2022. The allotment includes bonus shares issued in accordance with the 1:3 bonus ratio approved by shareholders on May 24, 2024.

The allotment encompasses shares from ESOP Grant 1 dated May 2, 2022, and ESOP Grant 2 dated July 27, 2024. Following this allotment, the company's total issued shares increased to 2,21,76,339, bringing the total issued share capital to ₹22,17,63,390.

Corporate Compliance and Next Steps

All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant SEBI guidelines. The company will seek shareholder approval for both the new ESOP Scheme 2026 and Mr. Baveja's reappointment through postal ballot processes. The newly allotted shares under the existing ESOP scheme are issued in dematerialized form and are identical to existing shares in all respects.