Thakkers Group Limited, a prominent player in the real estate and construction sectors, has announced a significant change to its board composition. At the company's 38th Annual General Meeting held on September 30, 2025, shareholders approved the appointment of Mr. Manish Vilas Lonari as an Independent Director for a five-year term, effective October 1, 2025.

Expertise and Experience

Mr. Lonari is a practicing advocate with over two decades of experience specializing in civil and criminal law. He continues a family legacy in advocacy spanning 40-45 years. His extensive legal background is expected to be a valuable asset to the company's ongoing and future operations.

Board's Perspective

The Board of Directors believes that Mr. Lonari's legal expertise will strengthen the company's compliance, governance, and decision-making framework. His wealth of knowledge in the legal field is expected to support effective execution and coordination in various projects.

Appointment Details

The appointment of Mr. Manish Vilas Lonari was made pursuant to the provisions of the Companies Act, 2013, and related rules. The Board's decision aligns with the company's commitment to maintaining strong corporate governance practices.

Compliance and Governance

Notably, Mr. Lonari has not been debarred from holding the office of a director by SEBI or any other authority. This appointment reinforces the company's dedication to upholding high standards of corporate governance. It's also worth noting that Mr. Lonari has no relationships with other directors of the company.

Looking Ahead

With this new addition to its board, Thakkers Group Limited aims to leverage Mr. Lonari's extensive legal experience to enhance its operations and strategic decision-making. As the company moves forward with its refreshed board composition, stakeholders will be keen to observe how these changes influence the company's future direction and performance in the competitive real estate market.

Thakkers Group Ltd (formerly known as Asian Food Products Limited) has announced a significant change in its shareholding structure, with promoter group member Jitendra Manohardas Thakker set to acquire a substantial stake in the company through gift transfers from immediate relatives.

Transaction Details

Jitendra Manohardas Thakker plans to acquire a total of 225,000 equity shares, representing 14.21% of the company's total share capital. The shares will be transferred as gifts from two immediate family members:

• 75,000 shares from his brother, Narendra Manohardas Thakker
• 150,000 shares from his sister, Pallavi Batavia

Rescheduled Transfer Date

Initially scheduled for September, the transaction has been postponed due to unforeseen circumstances. According to the company's disclosure, the share transfer is now expected to take place on or after October 3, 2025.

Regulatory Compliance

The company has confirmed that this transfer qualifies for exemption under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, as it occurs between immediate relatives within the promoter group.

Impact on Shareholding

Post-transaction, the shareholding structure will change as follows:

Promoter Group Holding

The overall promoter group holding is expected to remain unchanged at 41.91% after the transaction, as the shares are being transferred within the group.

This inter-se transfer within the promoter group is seen as a restructuring of family holdings and does not affect the total promoter stake in Thakkers Group Ltd. The company has assured compliance with all applicable disclosure requirements under the SEBI regulations.