Suyog Gurbaxani Funicular Ropeways Appoints B. Padmanabhan as Additional Independent Director

Suyog Gurbaxani Funicular Ropeways Limited has announced the appointment of Mr. B. Padmanabhan as Additional Independent Director, effective January 13, 2026. The appointment was approved by the company's Board of Directors based on the recommendation of the Nomination and Remuneration Committee, in compliance with Regulation 30 of the Securities and Exchange Board of India Listing Regulations.

Appointment Details

The key parameters of Mr. Padmanabhan's appointment are outlined below:

Parameter:	Details
Director Identification Number:	01987724
Position:	Additional Independent Director (Non-Executive)
Term Duration:	5 consecutive years
Appointment Date:	January 13, 2026
Term End Date:	January 12, 2031
Approval Status:	Subject to shareholder approval
Retirement Clause:	Not liable to retire by rotation

Professional Background

Mr. B. Padmanabhan brings extensive experience to the role, with over 40 years in finance and exposure to legal, secretarial, mergers and acquisitions, and information technology sectors. He is a fellow member of the Institute of Chartered Accountants of India (ICAI) and is registered with the Indian Institute of Corporate Affairs (IICA) as an Individual Independent Director.

Currently, he operates PRABAL Consultancy Services, following his tenure as Group CFO of India's second-largest auto component group until December 2017, which had revenues of approximately $1.6 billion. His career includes serving as CFO and Head of Finance, Accounts, Taxation, MIS, IT, Legal & Secretarial across four reputed companies.

Key Expertise Areas

Mr. Padmanabhan's professional experience encompasses several critical areas:

Mergers & Acquisitions: Involvement in transactions ranging up to $100 million, including verticals of US-based companies
Capital Markets: Experience with venture capital and private equity transactions up to $50 million
Financial Management: Procurement of various forex and INR loans, including commercial paper, debentures, term loans, and international financing
Corporate Transformation: Leadership in IT transformation, company restructuring, and corporate governance standards

International Experience

His international exposure includes directorship roles in multiple companies across different jurisdictions, including Varroc Elastomers Pvt. Ltd., Varroc European Holding BV (Netherlands) as Managing Director, IMES Italy, Aries Mentor Holding BV Italy, and entities in British Virgin Islands and China.

Recognition and Compliance

Mr. Padmanabhan has received recognition from ICAI for his valued contribution in leadership and management roles in the industry. The company has confirmed that he is not debarred from holding directorship by any SEBI order or other authority, and has not been convicted of any offence related to company promotion, formation, or management under the Companies Act, 2013 or previous legislation in the last five years.

The appointment requires shareholder approval in due course, and Mr. Padmanabhan is not related to any existing directors of the company. Company Secretary & Compliance Officer Ameya Bodas signed the regulatory filing on January 13, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.17%	-6.46%	-2.90%	-7.48%	-47.26%	+163.30%

Suyog Gurbaxani Funicular Ropeways Limited (SGFRL) has announced a significant change in its promoter group shareholding. The company reported the transmission of 399,999 fully paid-up shares from a deceased promoter group member to his legal heir.

Key Details of the Share Transmission

Aspect	Details
Deceased Member	Late Mr. Vivek Gurushantappa Lature
Legal Heir	Ms. Sakshi Vivek Lature
Number of Shares Transmitted	399,999 (Fully paid-up)
Date of Intimation	November 26, 2025
Effective Date of Transmission	November 26, 2025

Impact on Promoter Group

As a result of this transmission, Late Mr. Vivek Gurushantappa Lature will cease to be a part of the promoter group. This change will be reflected in the company's shareholding pattern for the quarter ending December 31, 2025.

Regulatory Compliance

SGFRL has made this disclosure on a voluntary basis, as the transmission does not trigger any specific disclosure requirement under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has stated that this change does not materially impact the shareholding or control of the company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Company Financial Overview

While this corporate action doesn't directly impact the company's financials, it's worth noting some key financial metrics from SGFRL's most recent balance sheet:

Financial Metric	Value (in Rs. crore)	Year-on-Year Change
Total Assets	141.00	21.76% increase
Current Assets	81.80	61.34% increase
Fixed Assets	53.60	10.82% decrease
Total Equity	24.50	55.06% increase

The company has shown significant growth in its total assets and current assets, indicating potential expansion or increased operational activities. However, the decrease in fixed assets might suggest asset disposals or depreciation effects.

Investors and stakeholders are advised to monitor future company announcements for any potential changes in strategy or operations that may result from this shareholding transition.