KEC International Appoints Former Foreign Secretary Harsh Vardhan Shringla as Independent Director

1 min read     Updated on 09 Aug 2025, 07:49 PM
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Overview

KEC International Ltd. has appointed Harsh Vardhan Shringla as an Additional Director (Non-Executive, Independent) to its Board of Directors for a five-year term from August 09, 2025, to August 08, 2030, subject to shareholder approval. Shringla, former Foreign Secretary of India and Chief Coordinator for India's G20 Presidency, brings nearly 40 years of diplomatic experience to the role. He has served as ambassador to the US, Bangladesh, and Thailand, and was recently nominated to the Rajya Sabha. The company affirms Shringla's independence and compliance with regulatory requirements.

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*this image is generated using AI for illustrative purposes only.

KEC International Ltd., a global infrastructure Engineering, Procurement, and Construction (EPC) major, has announced the appointment of Harsh Vardhan Shringla as an Additional Director (Non-Executive, Independent) to its Board of Directors. The appointment, approved by the company's Board on August 09, 2025, is subject to shareholder approval.

Appointment Details

Shringla's term as an Independent Director is set for five years, from August 09, 2025, to August 08, 2030. This strategic move brings a wealth of diplomatic experience to KEC International's leadership.

Shringla's Distinguished Career

Harsh Vardhan Shringla brings an impressive background to his new role:

  • Served as Foreign Secretary of India from 2020 to 2022
  • Acted as Chief Coordinator for India's G20 Presidency in 2023
  • Boasts nearly 40 years of diplomatic experience
  • Held ambassadorial positions in the United States, Bangladesh, and Thailand
  • Joined the Indian Foreign Service in 1984 after a stint in India's corporate sector
  • Recently nominated by the President of India as a member of the Rajya Sabha

Educational Background

Shringla is a graduate of St. Stephen's College, Delhi University. He has also been conferred with a D. Litt. (Honoris Causa) by ICFAI University, Sikkim, recognizing his contributions to diplomacy and international relations.

Independence and Compliance

KEC International has affirmed that Shringla is not related to any existing directors or key managerial personnel of the company. Furthermore, based on available information, he is not debarred from holding the office of a director by virtue of any SEBI order or any other such authority.

Company's Statement

Suraj Eksambekar, Company Secretary and Compliance Officer of KEC International, stated that the appointment was made based on the recommendation of the Nomination and Remuneration Committee. The company views this appointment as a significant addition to its board, bringing valuable insights from the realm of international diplomacy and governance.

This appointment underscores KEC International's commitment to strengthening its board with diverse and experienced professionals, potentially enhancing its strategic decision-making capabilities in the global infrastructure sector.

Historical Stock Returns for KEC International

1 Day5 Days1 Month6 Months1 Year5 Years
-0.94%+5.56%+1.32%+18.45%-13.64%+158.54%
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KEC International Issues SAR 123.75 Million Corporate Guarantee for Saudi Subsidiary

1 min read     Updated on 09 Aug 2025, 04:24 PM
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Reviewed by
Naman SharmaScanX News Team
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Overview

KEC International Limited has issued a corporate guarantee of SAR 123.75 million to support its subsidiary, Al Sharif Group & KEC Limited Company, in Saudi Arabia. The guarantee, provided to an overseas bank extending banking facilities to the subsidiary, is considered a contingent liability with no immediate financial impact on KEC International. This move aims to support the subsidiary's operations in Saudi Arabia. The transaction involves no interest from KEC International's promoter or group companies.

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*this image is generated using AI for illustrative purposes only.

KEC International Limited, a global infrastructure Engineering, Procurement and Construction (EPC) major, has taken a significant step to support its overseas operations. The company has issued a corporate guarantee worth SAR 123.75 million (Saudi Arabian Riyal) for its subsidiary, Al Sharif Group & KEC Limited Company, on August 09, 2025.

Guarantee Details

The corporate guarantee was provided to an overseas bank that has extended banking facilities to Al Sharif Group & KEC Limited Company. This move is aimed at supporting the subsidiary's operations and financial requirements in Saudi Arabia.

Financial Implications

KEC International has clarified that the guarantee represents a contingent liability for the company. As of now, there is no immediate impact on KEC International's financials. The company stated in its regulatory filing, "The Corporate Guarantee provided is a contingent liability for the Company. Presently, there is no impact of this guarantee on the Company."

Stakeholder Interests

It's worth noting that the promoter and group companies of KEC International have no interest in this transaction, ensuring transparency and avoiding any potential conflicts of interest.

Corporate Governance

The issuance of this corporate guarantee was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure demonstrates KEC International's commitment to maintaining good corporate governance practices and keeping its shareholders informed about significant financial decisions.

About KEC International Limited

KEC International Limited is a global infrastructure Engineering, Procurement and Construction (EPC) major. The company has a presence in the verticals of Power Transmission and Distribution, Railways, Civil, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. With this latest move, KEC International continues to support its international subsidiaries, potentially strengthening its global presence in the infrastructure sector.

The issuance of this corporate guarantee underscores KEC International's strategy to back its overseas operations, particularly in the Middle East region, which could be crucial for the company's growth and expansion plans.

Historical Stock Returns for KEC International

1 Day5 Days1 Month6 Months1 Year5 Years
-0.94%+5.56%+1.32%+18.45%-13.64%+158.54%
KEC International
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