Magnanimous Trade & Finance Ltd (MTFL), a non-banking financial company, has announced significant changes to its board composition and leadership structure following a board meeting held on September 6, 2025. The company also revealed plans for its upcoming 40th Annual General Meeting (AGM) scheduled for September 30, 2025.

Key Appointments and Resignations

The board has appointed two new additional Independent Non-Executive Directors: Mr. Nevil Jayeshbhai Kamdar and Mr. Priyanshu Alpesh Kumar Sheth, both for five-year terms subject to shareholder approval. Mr. Kurjibhai Premjibhai Rupareliya's designation was changed from Additional Executive Director to Managing Director, pending shareholder approval at the AGM.

In a significant reshuffle, the company accepted resignations from five directors:

• Mr. Shashank Parasrampuria (Non-Executive Director)
• Mrs. Savita Poddar (Independent Director)
• Mr. Srikath Samala (Independent Director)
• Mr. Zeeshan Ali (Independent Director)
• Mr. Sudhir Kumar Parasrampuria (Whole-time Director)

All resignations were attributed to preoccupation elsewhere.

New Appointments and Changes

MTFL has made several key appointments to strengthen its corporate governance:

1. Ms. Krina Gokulkumar Shah was appointed as Secretarial Auditor for a five-year term (2025-2030), subject to shareholder approval.
2. Mr. Jayesh Laxmanbhai Bhavsar was appointed as Company Secretary & Compliance Officer.
3. M/s. K P C M & CO was appointed as statutory auditor for a five-year term, subject to shareholder approval.

Committee Reconstitution and Office Relocation

The board has reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. Additionally, the company approved the relocation of both its registered and corporate offices within Jaipur.

Annual General Meeting and Financial Matters

The 40th AGM is scheduled for September 30, 2025, at 11:00 A.M. at the company's new registered office in Jaipur. The board has approved the closure of the Register of Members and Share Transfer Books from September 24 to September 30, 2025, for AGM purposes.

Conclusion

These comprehensive changes reflect MTFL's commitment to strengthening its leadership and governance structures. The upcoming AGM will be crucial for shareholder approval of these significant appointments and changes, potentially setting the stage for a new phase in the company's growth and operations.

Investors and stakeholders will be keenly watching how these changes impact Magnanimous Trade & Finance Ltd's strategic direction and performance in the coming years.

Magnanimous Trade & Finance Ltd has announced the resignation of its statutory auditors, M/s. Gupta & Shah, Chartered Accountants, effective September 5, 2025. The company, which specializes in trade and finance services, made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Points of the Announcement

• Auditor Resignation: M/s. Gupta & Shah, Chartered Accountants (Registration No. 001416C), have expressed their inability to continue as statutory auditors of the company.

• Effective Date: The resignation is effective from September 5, 2025.

• No Concerns Raised: The company stated that there were no concerns raised by the resigning auditors regarding the management or any material reasons for the resignation.

• Regulatory Compliance: The announcement was made in accordance with SEBI regulations, ensuring transparency in corporate governance.

Company's Response

Magnanimous Trade & Finance Ltd has assured stakeholders that the Audit Committee and the Board will consider the appointment of new statutory auditors to fill the casual vacancy caused by the resignation. The company plans to communicate this appointment in due course.

Additional Details

• The resignation letter from M/s. Gupta & Shah was received on September 5, 2025.
• As per the company's statement, no deliberation on the resignation is required by the Audit Committee, and consequently, no disclosure of the Audit Committee's view is applicable.

About Magnanimous Trade & Finance Ltd

Magnanimous Trade & Finance Ltd is a company registered in Rajasthan, India, with its corporate office in Kolkata. The company's shares are listed on the Bombay Stock Exchange (BSE).

The announcement was made by Mr. Kurjibhai Premjibhai Rupareliya, Additional Director of Magnanimous Trade & Finance Ltd, ensuring compliance with regulatory requirements and maintaining transparency with the company's shareholders and the market at large.