WAA Solar Limited Board Meeting Outcome: New CFO Appointed, Director Resigns

2 min read Updated on 24 Feb 2026, 08:29 PM

Reviewed by

Ashish TScanX News Team

Overview

WAA Solar Limited conducted a Board of Directors meeting on February 24, 2026, at its Vadodara registered office, approving the appointment of Mr. Mohanan Shankaran Choran as Chief Financial Officer and Key Managerial Personnel. Simultaneously, Mr. Mangi Lal Singh resigned from his dual roles as Non-Executive Director and CFO citing pre-occupancy. The Board also reconstituted three key committees including Audit, Nomination and Remuneration, and Stakeholders Relationship committees with independent directors in compliance with SEBI regulations.

*this image is generated using AI for illustrative purposes only.

WAA Solar Limited has announced significant management changes through its Board of Directors meeting held on February 24, 2026, involving the appointment of a new Chief Financial Officer and the resignation of a Non-Executive Director.

Board Meeting Details

The Board of Directors meeting was conducted at the company's registered office at Madhav House, Nr. Panchratna Building, Subhanpura, Vadodara-390023, commencing at 03:00 P.M. and concluding at 04:00 P.M. on February 24, 2026.

Parameter:	Details
Meeting Date:	February 24, 2026
Venue:	Registered Office, Vadodara
Duration:	03:00 P.M. to 04:00 P.M.
Security ID:	WAA
Scrip Code:	541445

New CFO Appointment

The Board of Directors approved the appointment of Mr. Mohanan Shankaran Choran as Chief Financial Officer and Key Managerial Personnel of the company, effective February 24, 2026.

Parameter:	Details
Name:	Mr. Mohanan Shankaran Choran
Position:	Chief Financial Officer & Key Managerial Personnel
Appointment Date:	February 24, 2026
Experience:	Over 55 years in accounts and EPC operations
Relevant Background:	20 years as Finance Director in public limited company

Mr. Choran brings extensive expertise in accounts and operations of EPC contracts, with more than 55 years of professional experience. His background includes approximately 20 years serving as Finance Director in a public limited company.

Director and CFO Resignation

Mr. Mangi Lal Singh (DIN: 02754372) submitted his resignation from dual roles as Non-Executive Director and Chief Financial Officer, effective from the close of business hours on February 24, 2026.

Parameter:	Details
Name:	Mr. Mangi Lal Singh
DIN:	02754372
Positions:	Non-Executive Director & CFO
Resignation Date:	February 24, 2026
Reason:	Pre-occupancy

In his resignation letter dated February 24, 2026, Mr. Singh cited pre-occupancy as the reason for his departure. The Board acknowledged his valuable contributions and guidance during his association with the company.

Board Committee Reconstitution

Following the resignation, the Board reconstituted three key committees effective February 24, 2026, in compliance with SEBI regulations.

Audit Committee

Position:	Name	Directorship Type
Chairperson:	Mr. Nikhil Kaushik	Non-Executive Independent Director
Member:	Mr. Shankar Prasad Bhagat	Non-Executive Independent Director
Member:	Mr. Prashant Kumar Gupta	Non-Executive Independent Director

Nomination and Remuneration Committee

Position:	Name	Directorship Type
Chairperson:	Mr. Shankar Prasad Bhagat	Non-Executive Independent Director
Member:	Mr. Prashant Kumar Gupta	Non-Executive Independent Director
Member:	Mr. Nikhil Kaushik	Non-Executive Independent Director

Stakeholders Relationship Committee

Position:	Name	Directorship Type
Chairperson:	Mr. Prashant Kumar Gupta	Non-Executive Independent Director
Member:	Mr. Shankar Prasad Bhagat	Non-Executive Independent Director
Member:	Mr. Nikhil Kaushik	Non-Executive Independent Director

Regulatory Compliance

The company has made these disclosures in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been communicated to BSE Limited and made available on the company's website. Company Secretary and Compliance Officer Mansi Heda (M. No.: A75626) signed the regulatory filing on behalf of WAA Solar Limited.

Historical Stock Returns for Waa Solar

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-100.00%	-5.52%	-8.51%	-34.51%	-35.51%	-2.30%

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WAA Solar Limited Shareholders Approve Director Appointment Through Postal Ballot

2 min read Updated on 19 Feb 2026, 08:10 PM

Reviewed by

Riya DScanX News Team

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Overview

WAA Solar Limited shareholders approved the regularization of Mr. Prashant Kumar Gupta as Non-Executive Independent Director through postal ballot on February 19, 2026. The resolution received overwhelming support with 99.91% votes in favor from 21 members representing 9,028,364 equity shares. The e-voting process ran from January 20 to February 18, 2026, with CS Haresh Kapuriya serving as scrutinizer confirming the validity of all votes cast.

*this image is generated using AI for illustrative purposes only.

WAA Solar Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving the regularization of Mr. Prashant Kumar Gupta as Non-Executive Independent Director. The company announced the voting results on February 19, 2026, following the completion of the remote e-voting process.

Voting Results and Participation

The postal ballot attracted participation from 21 members representing 9,028,364 equity shares out of the company's total 13,266,764 shares, achieving a voting turnout of 68.05%. The resolution required a special resolution and received strong support across shareholder categories.

Voting Outcome:	Details
Total Votes Cast:	9,028,364
Votes in Favor:	9,020,364 (99.91%)
Votes Against:	8,000 (0.08%)
Members Participated:	21
Voting Turnout:	68.05%

Category-wise Voting Breakdown

The voting results showed unanimous support from the Promoter and Promoter Group, while Public Non-Institutions demonstrated strong backing for the resolution.

Category:	Shares Held	Votes Polled	% Polled	In Favor	Against	% In Favor
Promoter Group:	9,002,764	9,002,764	100.00%	9,002,764	0	100.00%
Public Institutions:	0	0	0%	0	0	0%
Public Non-Institutions:	4,264,000	25,600	0.60%	17,600	8,000	68.75%

Process Timeline and Compliance

The postal ballot process followed all regulatory requirements under the Companies Act, 2013, and SEBI regulations. Key timeline details include:

Postal Ballot Notice Date: January 20, 2026
Cut-off Date: January 16, 2026
E-voting Period: January 20, 2026 (9:00 AM) to February 18, 2026 (5:00 PM)
Total Shareholders on Record: 2,424

The company engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities through their website. Notice was distributed electronically to members with registered email addresses and published in newspapers including "Free Press Gujarat" and "Lokmitra" on January 20, 2026.

Scrutinizer's Confirmation

CS Haresh Kapuriya from KH & Associates, serving as the appointed scrutinizer, confirmed the validity of the voting process and results. The scrutinizer's report verified that all 9,028,364 votes cast through the e-voting system were valid, with no invalid votes recorded. The resolution was deemed passed with the requisite majority as per regulatory requirements.

Director Appointment Details

The approved resolution regularizes the appointment of Mr. Prashant Kumar Gupta (DIN: 11377977) as a Non-Executive Independent Director of the company. This appointment strengthens the company's board composition and governance structure, reflecting shareholders' confidence in the proposed leadership addition.