Rich Universe Network Limited has announced the resignation of two Non-Executive Non-Independent Directors from its Board, effective 25.02.2026. The company informed BSE about this development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Directors' Resignation Details

The two directors who have tendered their resignations are:

Reasons for Resignation

Both directors cited personal and unavoidable circumstances as the primary reason for their resignation. In their resignation letters, both Mr. Solanki and Mr. Mittal stated that they would not be able to devote adequate time to the affairs of the company due to these personal circumstances.

The company has confirmed that the resignation letters received from both directors indicate no material reasons for their resignation other than the personal circumstances mentioned in their respective resignation letters.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 read with Schedule III of the SEBI Listing Regulations. The company provided detailed annexures as required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 November 2024.

The notification was signed by Mr. Shashwat Agarwal, Managing Director (DIN: 00122799), and submitted to BSE for record. Both departing directors expressed appreciation for the opportunity to serve on the Board and confidence in the company's future prospects.

Company Information

Rich Universe Network Limited is registered at 7/125, (C-2), 2nd Floor, Swaroop Nagar, Kanpur – 208002, and trades on BSE with scrip code 530271.

Rich Universe Network Limited , a company listed on the Bombay Stock Exchange (BSE), has announced significant changes to its board structure, effective immediately. The company's Board of Directors, following recommendations from the Nomination & Remuneration Committee, has approved key leadership transitions.

New Chairman Appointed

Mr. Yugank Gadi, previously serving as a Non-Executive Independent Director, has been elevated to the position of Chairman & Non-Executive Independent Director. At 36 years old, Mr. Gadi brings a fresh perspective to the leadership role, backed by his academic credentials and professional expertise.

Mr. Gadi holds both bachelor's and master's degrees in Commerce from Chhatrapati Shahu Ji Maharaj University. His expertise in finance and law is expected to be a valuable asset to the board, potentially contributing to strong governance, financial stability, and sustainable growth for the organization.

Changes in Executive Leadership

Concurrent with Mr. Gadi's appointment, Mr. Rajeev Agarwal's role has been modified from Chairman & Executive Director to Executive Director. This restructuring aims to streamline the company's leadership and align with its internal governance structure.

Continuity in Independent Directorship

Despite his new role as Chairman, Mr. Gadi will continue to serve as an Independent Director on the board. The company has clarified that there are no changes to the terms of his appointment as per the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.

Financial Performance

The board meeting also addressed other crucial matters, including the approval of unaudited financial results for the quarter ended June 30. The financial highlights for the quarter are as follows:

The company reported a loss of ₹5.70 lakhs for the quarter, compared to a profit of ₹0.54 lakhs in the corresponding quarter of the previous year.

Additional Board Decisions

The board meeting also resulted in several other key decisions:

1. Approval of the Draft Board's Report for the financial year ended March 31.
2. Approval of the Draft Notice for the 35th Annual General Meeting (AGM) scheduled for September 16.
3. Appointment of PCS Mr. Vaibhav Agnihotri as the Scrutinizer for the e-voting process at the upcoming AGM.
4. Approval for the closure of the Register of Members and Share Transfer Books from September 9 to September 16 for the AGM.

These changes and decisions reflect Rich Universe Network Limited's efforts to strengthen its governance structure and prepare for the upcoming financial year. Shareholders and market observers will likely be watching closely to see how these leadership changes impact the company's performance and strategic direction in the coming months.