Maruti Interior Products Limited has announced significant changes to its board structure following a meeting held on February 27, 2026. The company's Board of Directors convened at 6:30 P.M. at the registered office to consider and approve key leadership transitions that will reshape the company's governance framework.

Board Designation Changes

The most notable change involves Mrs. Parul Paresh Lunagaria (DIN: 09157413), who has transitioned from her role as Executive Director to Non-Executive Director. This change, effective from February 27, 2026, was approved based on recommendations from the Nomination and Remuneration Committee.

As a consequence of this designation change, Mrs. Lunagaria's executive remuneration, including salary, perquisites, and other benefits, has been discontinued with effect from February 27, 2026. Going forward, she will be entitled only to sitting fees for attending Board and Committee meetings, within statutory limits.

New Chairperson Appointment

In a parallel development, the Board has appointed Mr. Nipun Mahendrabhai Doshi (DIN: 09398522) as the new Chairperson of the Board. Mr. Doshi, who was already serving as an Independent Director, will continue in his independent capacity while taking on the additional responsibility of leading the Board.

Governance and Compliance Framework

The newly appointed Chairperson will maintain his status as a Non-Executive Independent Director, with no changes to his independence status or tenure. The appointment represents an internal restructuring of leadership roles rather than a fundamental change in board composition. Mr. Doshi's remuneration structure remains unchanged, with entitlement limited to sitting fees and commission, excluding any additional remuneration for the Chairperson role.

Both appointments have been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that neither Mrs. Lunagaria nor Mr. Doshi is debarred from holding directorial positions by any SEBI order or other regulatory authority, in accordance with BSE circular requirements.

Family Relationships and Disclosures

As part of mandatory disclosures, the company has revealed that Mrs. Parul Paresh Lunagaria maintains family relationships within the organization. She is the spouse of Mr. Paresh Purushotam Lunagaria (the Managing Director), mother of Mr. Nirbhay Paresh Lunagaria and Mr. Nirmal Paresh Lunagaria, and daughter-in-law of Mr. Purushotam Rudabhai Lunagaria. No such relationships were disclosed for the newly appointed Chairperson, Mr. Doshi.

The Board meeting, which began at 6:30 P.M., concluded at 7:00 P.M. on February 27, 2026, with all necessary regulatory filings and disclosures being submitted to the BSE Limited as required under applicable regulations.

Maruti interior products Limited has announced the postponement of its Rights Issue Committee meeting that was originally scheduled for February 13, 2026. The company informed BSE Limited about this development through a formal communication under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018.

Meeting Purpose and Scope

The Rights Issue Committee meeting was planned to deliberate on several critical aspects of the proposed rights issue. The committee was expected to finalize the record date, issue price, entitlement ratio, and other essential terms and conditions for the rights offering.

Reason for Postponement

The postponement stems from the ongoing process of obtaining in-principle approval from the stock exchange for the proposed rights issue. The company indicated that this approval is currently under process, necessitating the delay in the committee meeting.

Rescheduling Timeline

Maruti Interior Products Limited has committed to conducting the Rights Issue Committee meeting on the next working day following the receipt of the in-principle approval letter from the stock exchange. This approach ensures that all regulatory requirements are met before finalizing the rights issue parameters.

Corporate Communication

The intimation was signed by Paresh Purushotam Lunagaria, Managing Director of the company, with DIN: 00320470. The company's CIN is U67100GJ2011GOI001100, and the communication was dated February 13, 2026. This follows earlier intimations dated February 9, 2026 and February 5, 2026 regarding the same matter.

The postponement reflects the company's commitment to following proper regulatory procedures before proceeding with the rights issue implementation.