Sparc Electrex Appoints New Independent Directors and Reappoints Auditor; Director Completes Tenure
Sparc Electrex Ltd has announced several key changes in its board composition, appointing new independent directors while noting the resignation of a long-serving member. The company also confirmed the reappointment of its internal auditors for the upcoming fiscal year.The Board of Directors held a meeting on June 6, 2026, and approved the appointment of two additional non-executive independent directors. Mr. Jayantilal Raghunathram Suthar (DIN: 07265227) and Mr. Rohit Bhatia (DIN: 10942375) were appointed as Additional Non-Executive Independent Directors, effective immediately. Their appointments are set for a term of five years and remain subject to the approval of the company's shareholders.
Furthermore, the company extended its independent directorship by appointing Ms. Asha Shravan Kumar Khedia (DIN: 11743210) as an Additional Non-Executive Independent Women Director, effective June 6, 2026. Her term is also set for five years and is subject to shareholder approval.
Director Resignation Confirmed
Sparc Electrex confirmed the resignation of Mr. Niraj Hareshbhai Variava (DIN: 09197068) from his position as a Non-Executive Independent Director. His tenure, which spanned five years, concluded with effect from the close of business hours on June 7, 2026.The company acknowledged Mr. Variava’s valuable contribution and guidance during his association with Sparc Electrex. A detailed look at this transition is provided below:
| Detail | Information |
|---|---|
| Director Name | Mr. Niraj Hareshbhai Variava (DIN: 09197068) |
| Role | Non-Executive Independent Director |
| Cessation Date | June 7, 2026 |
| Reason for Resignation | Completion of five years as an Independent Director |
Internal Auditor Reappointment
In other corporate governance news, the Board of Directors reappointed M/s. Rajesh H Gupta & Co., Chartered Accountants, to serve as the company's Internal Auditors for Financial Year 2026-27. This decision was based on recommendations from the Nomination and Remuneration Committee.Stock Price Movement
Sparc Electrex Ltd shares settled at ₹5.20 in the post-market session, declining by 0.95%. The stock observed its full trading range today, oscillating between a low of ₹5.20 and an intraday high of ₹5.25.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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