Sanghvi Brands Limited has completed its board meeting held on March 10, 2026, addressing critical governance matters as previously announced. The meeting, conducted through video-conferencing from 4:00 P.M. to 4:21 P.M. IST, resulted in significant organizational changes affecting the company's board structure and committee compositions.

Director Resignation Formalized

The board officially noted the resignation of Mr. Carton Pereira (DIN: 00106962), Non-Executive Director, who had submitted his resignation letter dated February 05, 2026, with effect from the same date. In his resignation letter, Mr. Pereira cited personal commitments as the reason for stepping down and confirmed no other material reasons for his departure.

Committee Leadership Changes

Following Mr. Pereira's resignation, who served as Chairman across multiple committees, the board appointed Mr. Sunil Mohan Lulla (DIN: 00110266), an existing Independent Director, as the new Chairman for all three key committees. Additionally, Mr. Narendra Sanghvi (DIN: 02912085), Non-Executive Director, was appointed as a member across all committees to maintain required composition.

Audit Committee Reconstitution

The Audit Committee has been restructured to ensure compliance with Section 177(2) of the Companies Act, 2013, and listing regulations:

Nomination and Remuneration Committee Updates

The committee composition has been revised under Section 178 of the Companies Act, 2013:

Stakeholders Relationship Committee Restructuring

The committee has been reconstituted with the same leadership structure:

Deferred Appointment

The board deferred the previously planned appointment of Mr. Rohit Prakash Bafana (DIN: 00590469) as Additional Director in Independent and Non-Executive capacity due to non-receipt of requisite documents and declarations required under the Companies Act, 2013, and applicable SEBI circulars.

Regulatory Compliance

The meeting outcome was communicated to BSE Limited in compliance with Regulation 30 of the Listing Regulations and SEBI Master Circular dated November 11, 2024. The communication was digitally signed by Aman Sharma, Compliance Officer & Company Secretary (Membership No.: A28639), demonstrating the company's commitment to regulatory adherence and transparent governance practices.

Sanghvi Brands Limited has officially notified BSE Limited about the non-applicability of submitting quarterly compliance reports on Corporate Governance for the third quarter of FY26. The company's exemption is based on its listing status on the SME platform, which provides relief from certain regulatory compliance requirements under SEBI regulations.

Regulatory Exemption Details

According to Regulation 15 of SEBI (LODR) Regulation 2015, companies listed on SME exchanges are exempted from corporate governance provisions specified in multiple regulations. The exemption covers Regulations 17, 17A, 18, 19, 20, 21, 22, 24, 24A, 25, 26, 26A, 27, and specific clauses of Regulation 46, along with para C, D and E of Schedule V.

The exemption also applies to listed entities with paid-up equity share capital not exceeding ₹10.00 crores and net worth not exceeding ₹25.00 crores as on the last day of the previous financial year.

Future Compliance Commitment

Sanghvi Brands Limited has undertaken to comply with corporate governance requirements within six months from the date these provisions become applicable to the company. This commitment demonstrates the company's readiness to meet enhanced regulatory standards as it grows and potentially transitions from the SME platform.

Investor Complaint Resolution Status

The company maintained a clean record for investor complaints during the October-December 2025 period. The quarterly statement shows zero complaints across all regulatory platforms:

This complaint resolution statement was prepared pursuant to Regulation 13(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, handled by Bigshare Services Pvt. Ltd., the company's registrar and transfer agent.

Corporate Information

Sanghvi Brands Limited, headquartered at Sanghvi House, Shivajinagar, Pune, Maharashtra, operates under the guidance of Company Secretary and Compliance Officer Aman Sharma. The company's securities are identified by scrip code 540782 on BSE, maintaining its commitment to transparency and regulatory compliance within the SME framework.