Sawaca Enterprises Reshuffles Board, Appoints New Independent Directors
Sawaca Enterprises Limited has made significant changes to its board of directors and key committees. Two new Additional Non-Executive Independent Directors, Mr. Kishor Girishbhai Agaja and Mrs. Binaben Vijaykumar Shah, have been appointed, while two existing independent directors have resigned. Mr. Shetal S Shah has been reappointed as Chairman and Managing Director. The company has also reconstituted its Audit, Nomination and Remuneration, and Stakeholder Relationship Committees, with Mrs. Binaben Vijaykumar Shah serving as the Chairman of all three. These changes, along with AGM preparations, were approved in a board meeting on September 4, 2025.
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Sawaca Enterprises Limited, formerly known as Sawaca Business Machines Limited, has announced significant changes to its board of directors and key committees following a board meeting held on September 4, 2025.
New Appointments and Resignations
The company has appointed two new Additional Non-Executive Independent Directors:
- Mr. Kishor Girishbhai Agaja (DIN: 02653792)
- Mrs. Binaben Vijaykumar Shah (DIN: 11272026)
Both appointees are commerce graduates with over 10 years of experience in their respective fields. Their appointments are subject to shareholder approval at the upcoming 31st Annual General Meeting (AGM).
Simultaneously, two independent directors have stepped down from their positions:
- Mrs. Lilaben Kishor Bhai Agaja (DIN: 07124191)
- Mr. Vijay Chhotalal Shah (DIN: 07445515)
Both outgoing directors cited personal reasons and other professional commitments for their resignations, which took effect immediately on September 4, 2025.
Reappointment of Managing Director
The board has also approved the reappointment of Mr. Shetal S Shah as Chairman and Managing Director, subject to shareholder approval at the AGM.
Committee Restructuring
In light of these changes, Sawaca Enterprises has reconstituted its key committees:
| Committee | Chairman | Members |
|---|---|---|
| Audit Committee | Mrs. Binaben Vijaykumar Shah | Mr. Kishor Girishbhai Agaja, Mr. Satish R Shah |
| Nomination and Remuneration Committee | Mrs. Binaben Vijaykumar Shah | Mr. Kishor Girishbhai Agaja, Mr. Satish R Shah |
| Stakeholder Relationship Committee | Mrs. Binaben Vijaykumar Shah | Mr. Kishor Girishbhai Agaja, Mr. Satish R Shah |
Mrs. Binaben Vijaykumar Shah will serve as the Chairman of all three committees.
Additional AGM Preparations
The board meeting also addressed several matters related to the upcoming 31st AGM:
- Approval of the draft Director's Report and its annexures
- Approval of the AGM notice
- Appointment of M/s. Mukesh H. Shah & Co. as scrutinizer for remote e-voting and voting at the AGM
These changes reflect Sawaca Enterprises' commitment to maintaining strong corporate governance practices and ensuring fresh perspectives in its leadership team. The upcoming AGM will be a crucial event for shareholders to ratify these appointments and changes in the company's governance structure.
Historical Stock Returns for Sawaca Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -6.38% | +7.32% | -18.52% | -29.03% | +780.00% |
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