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 , a financial services company, has reported a net loss for the first quarter and announced the appointment of new statutory auditors. The company's financial performance and corporate governance updates were disclosed in its recent board meeting.

Financial Performance

Khandwala Securities reported a net loss of Rs 58.58 lakhs for the quarter, a significant downturn compared to a profit of Rs 47.83 lakhs in the same quarter of the previous year. The company's revenue from operations saw a substantial decline, dropping to Rs 114.20 lakhs from Rs 252.06 lakhs year-on-year, representing a decrease of approximately 54.70%.

The financial results also revealed:

• Other income increased to Rs 15.52 lakhs from Rs 5.55 lakhs in the corresponding quarter last year.
• Total expenses decreased to Rs 188.39 lakhs compared to Rs 210.89 lakhs in the previous year's quarter.
• Earnings per share (EPS) turned negative at Rs 0.38, down from a positive Rs 0.31 in the same period last year.

Segment-wise Performance

The company's segment-wise results showed:

Appointment of New Statutory Auditors

In a significant corporate governance move, Khandwala Securities' Board of Directors approved the appointment of M/s. Pravesh Agarwal & Associates, Chartered Accountants (FRN: 163221W) as the new statutory auditors of the company. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM). The new auditors will serve for a term of five consecutive years, from the conclusion of the 32nd AGM until the 37th AGM.

The change comes as the term of the current auditors, M/s. Aniket Kulkarni & Associates, Chartered Accountants, is set to conclude at the upcoming 32nd AGM. The Board expressed appreciation for the services rendered by the outgoing auditors during their tenure.

About the New Auditors

M/s. Pravesh Agarwal & Associates is a proprietorship firm led by Mr. Pravesh Agarwal, a Chartered Accountant with over 10 years of experience in statutory audits, internal audits, accounting, tax advisory services, and litigation services. The firm's registered office is located in Thane, Maharashtra.

The board meeting, which approved these changes and results, was held on August 12, at the company's registered office, commencing at 3:00 p.m. and concluding at 3:45 p.m.

Khandwala Securities Limited continues to navigate challenging market conditions, as reflected in its quarterly results. The appointment of new auditors signals the company's commitment to maintaining strong corporate governance practices amidst financial headwinds.