Lloyds Engineering Works Limited has announced the Board of Directors' approval for the reappointment of an Independent Director through a circular resolution passed on February 26, 2026. The decision was made based on recommendations from the Nomination and Remuneration Committee and is subject to shareholder approval.

Director Reappointment Details

The Board approved the reappointment of Mr. Kumar Mohanlal Pradhan (DIN: 02749508) as a Non-Executive Independent Director for a second term. The reappointment follows the provisions of Section 149 and other applicable sections of the Companies Act, 2013, along with Schedule IV and relevant SEBI (LODR) Regulations, 2015.

Professional Background

Mr. Pradhan, aged 67 years, brings extensive banking sector experience to the Board. His professional journey spans 37 years across multiple prestigious financial institutions and departments.

Career Highlights:

• Started career with Indian Airlines
• Worked with Reserve Bank of India and Bank of India
• Joined Industrial Development Bank of India (IDBI) in 1983
• Retired as General Manager from IDBI
• Served as Chief Executive Incharge at Investor Services of India Limited (IDBI subsidiary) for three years

Areas of Expertise:

• Project Finance and Resource Management
• Central Administration and Strategic Planning
• Research and Central Accounts
• Human Resources and Business Development
• Recovery and NPA Management
• Audit and Risk Assessment

Shareholder Approval Process

The Board has approved the Notice of Extraordinary General Meeting (EGM) to seek member approval for the reappointment. The EGM is scheduled for Friday, March 27, 2026, where shareholders will vote on this proposal.

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of SEBI (LODR) Regulations, 2015. Key compliance aspects include:

• Mr. Pradhan is not related to any other Director of the company
• He holds no directorships in other listed entities
• No debarment orders exist against him from SEBI or other authorities
• All material information has been disclosed as per regulatory requirements

The reappointment reflects the company's commitment to maintaining experienced independent oversight and governance standards in line with regulatory frameworks.

Lloyds Engineering Works Limited has submitted its quarterly compliance statement regarding the utilization of funds raised through its Rights Issue for the quarter ended December 31, 2025. The filing, made under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, confirms adherence to the original fund utilization plan.

Rights Issue Details

The company successfully completed its Rights Issue on June 5, 2025, raising Rs. 493.62 crore through the allotment of 30,85,17,476 partly paid-up equity shares.

Fund Utilization Status

The statement reveals no deviation from the original fund utilization plan for the reporting quarter. Out of the total Rs. 493.62 crore raised, Rs. 493.00 crore has been utilized as per the intended objects.

Compliance and Monitoring

The quarterly statement was thoroughly reviewed by the company's Audit Committee before receiving approval from the Board of Directors. India Ratings & Research Private Limited serves as the designated monitoring agency for the Rights Issue proceeds.

Payment Structure

The Rights Issue follows a partly paid-up structure, with the remaining balance amount payable through calls to be completed by March 31, 2026. The Board and Securities Issue Committee retain the authority to determine the quantum and timing of each call as required.

The filing demonstrates the company's commitment to regulatory compliance and transparent fund utilization practices, providing stakeholders with clear visibility into the deployment of raised capital.