VCU Data Management Limited , a company listed on the Bombay Stock Exchange (BSE), has taken a significant step in restructuring its shareholder categories. The company has submitted an application to BSE Limited for the reclassification of two of its promoters from the 'Promoter Group' to the 'Public' category of shareholders.

Reclassification Request

The reclassification request pertains to two key individuals:

1. Mr. Shripal Bafna
2. Mr. Sanjay Vardhan

Both Mr. Bafna and Mr. Vardhan, currently classified under the 'Promoter Group', have expressed their desire to be reclassified as part of the 'Public' category of shareholders.

Timeline of Events

The process of reclassification has unfolded over the following timeline:

Regulatory Compliance

The company's actions are in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation governs the reclassification of promoters as public shareholders.

Management Statement

Mr. Sanjay Joshi, the Managing Director of VCU Data Management Limited, confirmed the submission of the application in a formal communication to BSE. He stated, "We wish to inform you that the Company has made an application on July 25, 2025 to BSE Limited for re-classification of Mr. Shripal Bafna and Mr. Sanjay Vardhan, Promoters of the Company, from the 'Promoter Group' to the 'Public' Category of shareholders of the Company."

Implications

While the reasons for the reclassification request have not been disclosed, such moves can potentially impact the company's shareholding structure and could be of interest to investors and market analysts. The reclassification, if approved by BSE, would result in a change in the promoter holding of the company.

Investors and stakeholders of VCU Data Management Limited will be keenly watching for BSE's decision on this application, as it could have implications for the company's ownership structure and potentially its governance.

VCU Data Management Limited , a company listed on the Bombay Stock Exchange (BSE: 536672), has announced significant changes to its board structure and corporate governance in a series of decisions made during a board meeting held on July 21, 2025.

New Chairperson Appointed

The company's Board of Directors has approved the appointment of Mr. Nirbhay Singh (DIN: 11088122) as the new Chairperson of VCU Data Management Limited. This appointment is subject to shareholder approval and was based on recommendations from the Nomination and Remuneration Committee. Mr. Singh's appointment is effective from July 21, 2025. It is noteworthy that Mr. Singh is not debarred from holding the office of Director pursuant to any SEBI Order or Order of any such authority.

Board Resignations

The board meeting also addressed recent changes in the company's leadership:

1. Mr. Shripal Bafna (DIN: 06489822) has resigned from his position as Whole Time Director, effective June 23, 2025. Mr. Bafna cited personal reasons for his departure, stating he was unable to devote sufficient time to the company's business.

2. Ms. Payal Sharma (DIN: 10426254) has stepped down from her role as Non-Executive Non-Independent Director, effective June 18, 2025. Ms. Sharma's resignation was also attributed to personal commitments.

Committee Restructuring

Following these changes, the board has approved the reconstitution of the Nomination & Remuneration Committee, effective July 21, 2025. The new structure consists of three members:

Other Key Decisions

The board meeting also resulted in several other important decisions:

1. Promoter Reclassification: The board has approved requests from Mr. Shripal Bafna and Mr. Sanjay Vardhan to be reclassified from the 'promoter and promoter group' category to the 'public' category. This reclassification is subject to exchange approval and shareholder consent.

2. Auditor Appointments:

   • M/s Ankur Gandhi and Associates has been appointed as the Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30, subject to shareholder approval.
   • M/s Mistry Foresight Consulting has been appointed as the Internal Auditor for the financial year 2025-2026.

3. Corporate Office Relocation: The company has approved the use of a property in Ahmedabad, Gujarat, as its new corporate office, effective July 21, 2025.

4. Books of Accounts: The board has approved changing the location for maintaining the company's books of accounts to the new corporate office address in Ahmedabad.

These changes reflect VCU Data Management's efforts to strengthen its corporate governance and adapt to evolving business needs.