Vikas Lifecare Limited has announced a significant change to its board composition. The company's Board of Directors has recommended the appointment of Mr. Shri Pal Goel as an Independent Director for a five-year term, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Appointment Details

The recommendation comes following a proposal from a company member and subsequent approval by the Nomination and Remuneration Committee. Mr. Goel, who holds Director Identification Number (DIN) 07352580, is set to begin his tenure on September 29, 2025, pending shareholder approval at the 30th AGM scheduled for the same date.

About Shri Pal Goel

Mr. Goel brings a wealth of experience to the table:

• Educational Background: MA in Economics from Kurukshetra University (Gold Medalist)
• Professional Experience: Over 35 years in the banking sector
• Career Highlight: Retired as General Manager of North Zone at Union Bank of India
• Expertise: Extensive experience across retail banking, treasury, and risk management departments
• Achievements: Recipient of best business performance awards in 2003, 2006, and 2009

Current Roles and Responsibilities

Mr. Goel currently serves as an Independent Director at Delphi World Money Limited. He also holds positions with various charitable organizations, including:

• Vice-Chairman (Finance & Treasury) for Maharaja Agrasen Institute of Technology Delhi
• Trustee & Fund Manager with Maharaja Agrasen Hospital
• Trustee with Balaji Nirogdham (Delhi)
• Involvement with charitable organizations in Ayodhya & Salasar

Appointment Process and Compliance

The company has emphasized its commitment to regulatory compliance:

• The appointment recommendation follows the receipt of a notice from a member under Section 160 of the Companies Act, 2013.
• An addendum to the AGM notice will be circulated to shareholders, incorporating the recommendation for their approval.
• Vikas Lifecare has confirmed that Mr. Goel is not debarred from holding the office of Director by the Securities and Exchange Board of India (SEBI) or any other authority.

Impact on Corporate Governance

The potential appointment of Mr. Shri Pal Goel as an Independent Director aligns with Vikas Lifecare's commitment to strong corporate governance. His extensive experience in the banking sector, particularly in areas such as risk management and fund management, is expected to bring valuable insights to the company's board.

Shareholders will have the opportunity to vote on this appointment at the upcoming AGM, marking a significant step in shaping the future leadership of Vikas Lifecare Limited.

Vikas Lifecare , a prominent player in the Indian market, has recently made headlines with two significant developments that could potentially impact its business operations and financial standing.

Major Financial Contribution to Ebix Acquisition

In a bold move that signals its strategic ambitions, Vikas Lifecare has made a substantial financial contribution of USD 34.827 million (approximately ₹286 crore) towards the acquisition of Ebix. This significant investment underscores the company's commitment to expanding its portfolio and potentially entering new markets or strengthening its position in existing ones.

The acquisition of Ebix, a leading supplier of on-demand software and e-commerce services to the insurance, financial, healthcare, and e-learning industries, could provide Vikas Lifecare with new technological capabilities and market opportunities. However, the specific details of the acquisition and Vikas Lifecare's role in it remain to be clarified.

Arbitration Proceedings Against Eraaya

In a separate development, Vikas Lifecare has invoked arbitration proceedings against Eraaya. This legal action suggests the existence of a dispute or disagreement between the two entities, the nature of which has not been disclosed in the available information.

Arbitration is often chosen as a method for resolving commercial disputes outside of the traditional court system. It can be a faster and more flexible process, potentially allowing for a quicker resolution of the issues at hand. However, the initiation of such proceedings also indicates that attempts at direct negotiation or other forms of dispute resolution may have been unsuccessful.

Implications for Investors

These recent developments present a mixed picture for Vikas Lifecare and its stakeholders:

• Potential Growth: The substantial investment in the Ebix acquisition suggests a strategic move towards growth and expansion, which could potentially yield positive returns in the long term.
• Uncertainty: The arbitration proceedings against Eraaya introduce an element of uncertainty and potential risk.

Investors and market watchers will likely be keen to see how these situations unfold in the coming months. The success of the Ebix acquisition integration and the resolution of the dispute with Eraaya could significantly influence Vikas Lifecare's future performance and market position.

Key Points to Monitor

• Progress of the Ebix acquisition and its integration
• Outcome of the arbitration proceedings with Eraaya
• Any further announcements or disclosures from Vikas Lifecare regarding these matters

Stakeholders are advised to keep a close eye on further developments for a more comprehensive understanding of these events and their potential impacts on Vikas Lifecare's business operations and financial standing.