Mercury EV-Tech Limited has announced the sudden demise of its Independent Director Mr. Ajay Ramkrishna Shukla on December 23, 2025. The company informed BSE Limited about this significant board change through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Composition Change

Mr. Ajay Ramkrishna Shukla, who held Director Identification Number (DIN) 10714665, served as an Independent Director of the company until his unexpected passing. The company has stated that his sudden demise represents an irreparable loss to the organization.

Company Response

The management of Mercury EV-Tech Limited expressed profound grief over the loss. All directors and employees have conveyed their deep sympathy, sorrow, and condolences to Mr. Shukla's family during this difficult time. The company acknowledged the significant contribution he made during his tenure as an Independent Director.

Regulatory Compliance

The notification was signed by Mr. Jayesh Raichandbhai Thakkar, Chairman and Managing Director of the company, bearing DIN 01631093. As per the regulatory disclosure, Mr. Shukla did not hold directorships in any other listed entities at the time of his demise.

Impact on Board Structure

With Mr. Shukla's passing, Mercury EV-Tech Limited will need to address the vacancy in its independent director position to maintain compliance with corporate governance requirements. The company has fulfilled its immediate obligation by promptly notifying the stock exchange about this change in board composition within the prescribed timeframe.

Mercury EV-Tech Limited has announced a key leadership appointment, naming Ms. Krishna Tejashkumar Naik as its new Company Secretary and Compliance Officer. The appointment was formally approved during a board meeting held on December 12, 2025, marking an important step in the company's corporate governance structure.

Board Meeting Details and Approval

The board of directors convened on Friday, December 12, 2025, to deliberate on this significant appointment. The meeting details are outlined below:

The board meeting was conducted in accordance with regulatory requirements and corporate governance standards, ensuring proper deliberation on the appointment decision.

New Appointment Details

Ms. Krishna Tejashkumar Naik brings professional credentials and extensive experience to her new role at Mercury EV-Tech Limited. Her appointment details are as follows:

As Company Secretary and Compliance Officer, Ms. Naik will be responsible for ensuring regulatory compliance and maintaining corporate governance standards within the organization. The company has confirmed that she is not related to any directors of the company.

Regulatory Compliance and Disclosure

Mercury EV-Tech Limited has fulfilled its disclosure obligations by informing BSE Limited about this corporate development under scrip code 531357. The company communicated the board meeting outcome under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, which mandates timely disclosure of material events and corporate developments.

The disclosure was made in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, regarding changes in key managerial personnel.

Corporate Governance Significance

The appointment of a qualified Company Secretary strengthens Mercury EV-Tech Limited's corporate governance framework. As a Key Managerial Personnel, Ms. Naik will play a crucial role in ensuring compliance with regulatory requirements and maintaining effective communication between the company and regulatory authorities. This appointment demonstrates the company's commitment to maintaining robust governance practices and regulatory compliance standards in the automobile sector.