Khandwala Securities Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mrs. Suzan Vakil as an Independent Director. The company aims to strengthen its board with Mrs. Vakil's extensive legal expertise and experience in various sectors.

Key Details of the Appointment

Professional Background

Mrs. Vakil brings a wealth of experience to Khandwala Securities:

• Over 15 years of experience as an Advocate
• More than 9 years as a Solicitor
• Specialization in power, renewable energy, infrastructure, and high-value commercial disputes
• Expertise in contract structuring, litigation, arbitration, and legal advisory work

Voting Process

Shareholders can participate in the voting process through remote e-voting:

• E-voting Period: November 9, 2025 (9:00 AM) to December 8, 2025 (5:00 PM)
• E-voting Platform: National Securities Depository Limited (NSDL)
• Result Announcement: Within two working days of e-voting conclusion

Board's Recommendation

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has proposed Mrs. Vakil's appointment. They believe her integrity, knowledge, and varied experience in litigation, arbitration, and legal advisory will benefit the company.

Compliance and Independence

Mrs. Vakil has confirmed her independence and compliance with the relevant regulations:

• Meets criteria of independence under Companies Act, 2013 and SEBI Regulations
• Not related to any Director or Key Managerial Personnel of the company
• Registered with the data bank of Independent Directors maintained by the Indian Institute of Corporate Affairs

Khandwala Securities views this appointment as a strategic move to enhance its board's expertise and oversight capabilities. Shareholders are encouraged to participate in the e-voting process to voice their decision on this important corporate governance matter.

Khandwala Securities Limited has successfully appointed Mrs. Suzan Vakil (DIN: 11289012) as an Independent Director through a special resolution passed via remote e-voting postal ballot process. The process concluded on December 8, 2025, with overwhelming shareholder approval.

Key Highlights of the Appointment

• Approval Process: The resolution received 99.99% of valid votes cast in favor, with 139 shareholders participating and casting 9,410,710 total valid votes.
• Term: Mrs. Vakil's appointment is for five years, from September 11, 2025, to September 10, 2030.
• Expertise: Mrs. Vakil has over 15 years of experience as an Advocate and 9 years as a Solicitor, specializing in power, renewable energy, infrastructure, and commercial disputes.
• Educational Background: She holds LLB and B.Com degrees and became a solicitor from the Bombay Incorporated Law Society in 2016.

Board Committee Restructuring

Following Mrs. Vakil's appointment, Khandwala Securities has reconstituted its board committees:

Audit Committee

• Mr. Kalpen Shukla (Chairman)
• Mrs. Suzan Vakil (Member)
• Mrs. Bhagyashree Khandwala (Member)

Nomination and Remuneration Committee

• Mrs. Suzan Vakil (Chairman)
• Mr. Kalpen Shukla (Member)
• Mrs. Bhagyashree Khandwala (Member)

Stakeholders Relationship Committee

• Mr. Kalpen Shukla (Chairman)
• Mrs. Suzan Vakil (Member)
• Mr. Paresh Khandwala (Member)

Additional Information

The company has confirmed that Mrs. Vakil is not related to any other directors on the board and is not debarred from holding a directorship by any regulatory authority. Her appointment was initially recommended by the Nomination and Remuneration Committee and approved by the Board of Directors during a meeting held on September 11, 2025.

The board meeting where the initial decision was made commenced at 4:30 p.m. and concluded at 5:20 p.m. on September 11, 2025. Khandwala Securities has duly informed the stock exchanges of these developments in compliance with SEBI regulations.

With the successful completion of the postal ballot process, Mrs. Suzan Vakil's appointment as an Independent Director has now received the necessary shareholder approval, solidifying her position on the board of Khandwala Securities Limited.