Purple Agrotech Industries Appoints New Independent Director as Board Restructures
The Board of Directors of Purple Agrotech Industries Ltd announced significant changes in its composition on June 3, 2026, appointing a new independent director while accepting the resignation of an existing board member. The company confirmed that these appointments and departures led to the reconstitution of key committees effective from June 4, 2026.Mrs. Lata Gaurav Kimtani was appointed as an Additional Non-Executive Independent Director by the Board, following the recommendation of the Nomination and Remuneration Committee. Mrs. Kimtani's tenure is set for a first term of five consecutive years, commencing from June 3, 2026. The company confirmed that Mrs. Kimtani meets the criteria of independence as stipulated in relevant regulations.
Concurrently, the Board formally accepted the resignation of Mrs. Jalpaben Nirav Joshi from her post as Independent Director. The resignation was tendered due to pre-occupation and took effect from the close of business hours on June 3, 2026. The company appreciated the valuable contributions made by Mrs. Joshi during her time with the organization.
Key Changes in Board Composition
The transition included both appointments and resignations that affected multiple governance roles within the company. The details regarding the changes for both directors are provided below:| Particulars | Mrs. Lata Gaurav Kimtani (New Appointment) | Mrs. Jalpaben Nirav Joshi (Resignation) |
|---|---|---|
| Reason for Change | Appointment as Non-Executive Independent Director | Resignation due to pre-occupation |
| Date of Cessation/Appointment | Effective June 3, 2026 | Effective close of business hours on June 3, 2026 |
| Brief Profile (if applicable) | Holds a Master's degree in Commerce with experience in accounting and finance. | NA |
| Relationship Disclosure | NIL | NA |
Governance Committees Reconstituted
Effective from June 4, 2026, the Board of Directors has reorganized its committees following these changes. The restructuring involved specific roles within the Audit Committee and the Nomination and Remuneration Committee.Details pertaining to the reconstitution of these committees are as follows:
Audit Committee Members:
| Position | Name of Member | Category |
|---|---|---|
| Chairman | Lata Gaurav Kimtani | Independent Director |
| Member | Manthan Gumansinh Thakor | Independent Director |
| Member | Naishadh Dineshbhai Modi | Managing Director & CFO |
Nomination and Remuneration Committee Members:
| Position | Name of Member | Category |
|---|---|---|
| Chairman | Manthan Gumansinh Thakor | Independent Director |
| Member | Lata Gaurav Kimtani | Independent Director |
| Member | Pradip Sudhakarbhai Birewar | Non-Independent Non-Executive Director |
Stock Price Movement
As of 14:16, shares of Purple Agrotech Industries Ltd are trading flat at ₹6.60, maintaining a zero percentage change for the day. This stability comes from the stock remaining perfectly locked, as the intraday high and low are both registered identically at ₹6.60.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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