Magnanimous Trade & Finance Appoints Two Additional Independent Directors and Reconstitutes Committees
Magnanimous Trade & Finance Limited announced significant structural changes following a Board meeting held on Saturday, July 25, 2026. The company’s Board of Directors approved the appointment of two new individuals as Additional Non-Executive Independent Directors (Non-Executive Independent Director) and sanctioned the re-constitution of various internal Board Committees.The appointments were made based on the recommendation of the Nomination and Remuneration Committee and are effective from July 25, 2026, for a period of five consecutive years, pending shareholder approval.
New Directors Appointed
Mr. Darvin Maheshbhai Kiyada and Mr. Rushi Arvindbhai Savliya were appointed to the Board to bolster corporate governance.The details regarding the appointment of Mr. Darvin Maheshbhai Kiyada are as follows:
| Details | Information |
|---|---|
| Reason for change | Appointment |
| Date and term of appointment | July 25, 2026, for five consecutive years |
| Brief profile | Possesses more than two years of experience in accounts and finance. |
| Relationship with Existing Directors | No relationship |
| Directorships held (Listed/Unlisted) | Nil |
| Shares Held | NIL |
The details concerning the appointment of Mr. Rushi Arvindbhai Savliya are as follows:
| Details | Information |
|---|---|
| Reason for change | Appointment |
| Date and term of appointment | July 25, 2026, for five consecutive years |
| Brief profile | A multilingual Mechanical Engineering graduate with experience spanning engineering, research, leadership, and management. He is committed to corporate governance, operational excellence, and continuous improvement. |
| Relationship with Existing Directors | No relationship |
| Directorships held (Listed/Unlisted) | Nil |
| Shares Held | NIL |
Board Committee Restructuring
In addition to the appointments of new independent directors, the Board of Directors approved the re-constitution of various corporate committees as part of its board restructuring efforts. The meeting commenced at 02:30 PM and concluded at 03:10 PM.Stock Price Movement
Magnanimous Trade & finance Ltd shares edged higher on Friday, settling at ₹5.64, which represented a 4.83% gain.The stock remained completely flat throughout the trading session, with the high and low both locked at ₹5.64.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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