Swati Projects Limited has announced a significant leadership change with the resignation of its Managing Director, effective immediately. The company communicated this development to stock exchanges following a board meeting held on February 24, 2026, in compliance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Resignation Details and Reasons

The Board of Directors took note of Mr Shreegopal Daga's resignation from his position as Managing Director, with the resignation taking effect from February 24, 2026. According to the company's disclosure, Mr Daga, who is 86 years old, stepped down due to personal reasons, specifically citing health issues. His resignation letter was originally submitted on February 16, 2026, but was accepted by the board with effect from February 24, 2026.

Board Meeting Proceedings

The board meeting that addressed this leadership change commenced at 3:30 PM and concluded at 6:30 PM on February 24, 2026. The company has designated Mr Ravi Todi, Whole Time Director with DIN 11511076, to handle all regulatory formalities associated with the resignation. Mr Todi has been specifically authorized to sign and file Form DIR-12 along with other necessary documents with the Registrar of Companies regarding the director's resignation.

Regulatory Compliance and Disclosures

The company has fulfilled its disclosure obligations by informing all relevant stock exchanges including BSE Limited, Metropolitan Stock Exchange of India Limited, and Calcutta Stock Exchange Limited. The disclosure was made pursuant to Regulation 30 of the Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Information

Swati Projects Limited, incorporated in 1983 with CIN L65993WB1983PLC036332, operates from its registered office at 13, Ganesh Chandra Avenue, 2nd Floor, Room No. 12, Kolkata-700013. The company maintains listings across multiple exchanges and continues its operations under the leadership of its remaining board members following this management transition.

Swati Projects Limited has announced a board meeting scheduled for February 24, 2026, to address a significant leadership change. The company has issued a formal notice under Regulation 29 of the SEBI Listing Regulations regarding the resignation of its Managing Director.

Board Meeting Details

The meeting is scheduled to take place on Tuesday, February 24, 2026, at 3:30 PM at the company's registered office located at 13, Ganesh Chandra Avenue, 2nd Floor, Room No. 12, Kolkata-700013.

Key Agenda Item

The board meeting has a single primary agenda item focused on leadership transition. The directors will convene to receive, consider, and accept the resignation of Mr. Shreegopal Daga from his position as Managing Director of the company.

Regulatory Compliance

The announcement was made through a formal notice dated February 16, 2026, in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Ravi Todi, Wholetime Director (DIN: 11511076), on behalf of the company.

Stock Exchange Notifications

The company has informed multiple stock exchanges where its shares are traded:

The formal notifications were sent to BSE Limited at Dalal Street, Mumbai, The Metropolitan Stock Exchange of India Limited at Kurla West, Mumbai, and The Calcutta Stock Exchange Limited in Kolkata, ensuring comprehensive disclosure across all relevant trading platforms.