Persistent Systems Ltd Board Approves Key Director Reappointments, Announces Major Internal Restructuring

Persistent Systems Ltd Board Approves Key Director Reappointments, Announces Major Internal Restructuring​

Persistent Systems Limited confirmed several critical approvals following the meeting of its Board of Directors. The company approved the reappointment of four Independent Directors, detailed proposals for internal restructuring involving a subsidiary transfer and a merger, and ratified the Annual Report for the Financial Year 2025-26.

The board meetings conducted by Persistent Systems Ltd led to multiple decisions regarding corporate governance and operational streamlining. Key approvals centered on ensuring leadership continuity across various director roles and executing strategic entity rationalization within the group structure.

Director Reappointments Approved​

The Board approved the proposed reappointment of four Independent Directors (ID) whose existing terms were concluding, based on recommendations from the Nomination and Remuneration Committee. The appointments are subject to shareholder approval at the ensuing 36th Annual General Meeting (AGM).

Ms. Avani Davda was approved for a second term as an ID, effective December 28, 2026, until December 27, 2031. Ms. Davda, who is currently Chairperson of the CSR Committee and a member of the Audit Committee, previously served in this role from December 28, 2021, to December 27, 2026.

Mr. Arvind Goel was approved for reappointment as an ID for a second term, effective June 7, 2027, to June 6, 2032. Mr. Goel previously served from June 7, 2022, to June 6, 2027. He serves as Chairman of the Stakeholders Relationship and ESG Committee at Persistent.

Dr. Ambuj Goyal was approved for reappointment as an ID, effective June 7, 2027, until October 31, 2031, marking the end of his term when he attains 75 years. Dr. Goyal serves as Chairman of the Nomination and Remuneration Committee.

Mr. Dan'l Lewin was approved for a second term as an ID, effective June 10, 2027, to April 30, 2029. Mr. Lewin previously served from June 10, 2022, to June 9, 2027.

The details of the directors and their roles are summarized below:

Strategic Entity Restructuring and Mergers​

The Board also ratified two significant internal corporate changes aimed at entity rationalisation and operational efficiency within the group.

Subsidiary Transfer​

The company approved the transfer of 100% shareholding of Persistent Systems UK Limited from Persistent Systems Limited, India to Aepona Group Limited, Ireland. Upon execution of the Share Purchase Agreement (SPA), Persistent Systems UK Limited will become the Wholly Owned Subsidiary of Aepona Group Limited, Ireland. This transfer constitutes a part of the internal restructuring process.

Merger Approval​

The Board approved the merger of M/s. MediaAgility India Private Limited (a Wholly Owned Subsidiary) by absorption into Persistent Systems Limited (the Holding Company). The approval is contingent upon receiving all necessary statutory approvals.

Details regarding this merger are as follows:


The rationale behind the merger is to achieve entity rationalisation and operational efficiency within the group. As M/s. MediaAgility India Private Limited is a Wholly Owned Subsidiary of Persistent Systems Limited, neither transaction falls under Related Party Transactions requirements as per relevant regulations.

Financial Governance​

The Board of Directors reviewed and approved the Annual Report for the Financial Year 2025-26. This approval covered the Corporate Governance Report, Management Discussion and Analysis Report, Business Responsibility and Sustainability Report, and all other contents contained within the Annual Report.

PERSISTENT Stock Price Movement​

Today, Persistent Systems Limited shares edged higher to close at ₹5065 after gaining 0.19%, marking a positive performance for the tech stock. The equity saw brisk trading activity throughout the day, with 396,122 shares being transacted.