Kalind Ltd Approves Board Changes, New Business Objects, and Independent Director Appointment
Kalind Ltd, announced several significant resolutions passed during its Board of Directors meeting held on Monday, April 6, 2026. The board considered and approved major changes related to the company’s constitutional documents, director appointments, and the status of promoter group members.The meeting, held at the Registered office in Surat, Gujarat, addressed the appointment of a new Independent Director, the reconstitution of key board committees, and proposed substantial updates to the Memorandum of Association (MOA) and Articles of Association (AOA).
Appointment of Independent Director
The board, following a recommendation from the Nomination and Remuneration Committee, approved the appointment of Ms. Payal Bafna (DIN: 09075302) as an Additional Director designated as Non-Executive - Independent Director. This appointment is effective from April 6, 2026, for a first term spanning five consecutive years, concluding on April 5, 2031, subject to shareholder approval.The company's committee structure is detailed as follows:
| Committee Name | Chairperson | Members |
|---|---|---|
| Audit Committee | Ms. Payal Bafna (Independent Director) | Mr. Vishal Patil (Independent Director), Mr. Ayush Jasani (Managing Director) |
| Nomination and Remuneration Committee | Mr. Vishal Patil (Independent Director) | Ms. Payal Bafna (Independent Director), Mr. Dharmendrabhai Jasani (Whole Time Director) |
| Stakeholders Relationship Committee | Mr. Vishal Patil (Independent Director) | Ms. Payal Bafna (Independent Director), Mr. Ayush Jasani (Managing Director) |
The composition of the board post-resolution is slated to comprise 6 Directors: 2 Executive Directors, 1 Non-Executive Non-Independent Director, and 3 Non-Executive Independent Directors.
Proposed Changes to Corporate Documents
The board proposed three major changes to the company's core documents, all subject to approval by the shareholders through a Special Resolution via Postal Ballot:1. Inclusion of New Objects: Adding new business activities to the main objects of the MOA.
2. Deletion and Addition of Clauses: Deleting existing clauses 1 to 24 under 'B. MATTERS WHICH ARE NECESSARY FOR FURTHERANCE OF THE OBJECTS SPECIFIED IN CLAUSE III (A)' of the MOA and adopting new clauses as per the Companies Act, 2013.
3. Adoption of New AOA: Adopting an entirely new set of Articles of Association (AOA) to align the company’s governance structure with the provisions of the Companies Act, 2013.
The rationale for these changes includes diversifying the company’s scope into renewable energy (such as solar EPC and power trading) and agriculture and allied activities, which are viewed as sectors with significant growth potential.
Promoter Group Reclassification Status
The board also reviewed requests received from members of the Promoter Group seeking re-classification from the 'Promoter' category to 'Public' category under SEBI LODR Regulations. Two individuals were named in the assessment:| Name of Shareholder | Category | No. of Shares Held | % of shares held |
|---|---|---|---|
| Yagnik Bharatkumar Tank | Promoter | 0 | 0 |
| Deniis Bhupendra Desai | Promoter | 0 | 0 |
The board noted that these individuals confirmed not holding any shares, not exercising control, and not having any special rights. Consequently, the board approved these requests, noting that for these members, shareholder approval for reclassification is not applicable as they do not hold any shares.
The company confirmed its compliance with the minimum public shareholding requirement as mandated by SEBI LODR Regulations.
The board confirmed that the postal ballot will be conducted through the remote e-voting facility.
Stock Price Movement
In today's trade, Kalind Ltd shares are currently trading between ₹100.00 and ₹105.00. The stock is showing a positive momentum, moving up ₹0.91 and currently holding at ₹101.96.Source:
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