Vaswani Industries Limited Appoints Mr. Rituraj Peswani as Additional Independent Director
Vaswani Industries Limited announced key outcomes from its Board of Directors meeting held on May 18, 2026, detailing the re-appointment and addition of Mr. Rituraj Peswani to its Board of Directors.The Board meeting noted that Mr. Rituraj Peswani's term as an Independent Director had concluded on May 18, 2026. Following a performance evaluation, the Nomination and Remuneration Committee (NRC) recommended his re-appointment as an Independent Director for a second term spanning five consecutive years.
Based on the committee's recommendation, the Board of Directors formally approved the appointment of Mr. Rituraj Peswani as an Additional Director in the Non-Executive, Independent category. This appointment is effective from May 19, 2026.
Director Profile and Background
Mr. Rituraj Peswani holds a Master's Degree in Commerce (M.Com.) and brings over 20 years of rich experience in the steel and iron industry. His expertise covers the trading of steel and allied products, along with deep knowledge of market dynamics, business operations, and industry practices.The company confirmed that Mr. Peswani is not related to any Director or Key Managerial Personnel of the Company. Furthermore, he is not debarred from holding the office of Director by any regulatory authority.
Committee Membership
The Board of Directors also confirmed that Mr. Peswani's membership in several key Board committees will continue uninterrupted from May 19, 2026. There will be no change in the constitution of these committees:| Sr. | Committee | Position |
|---|---|---|
| 1 | Audit Committee | Chairman |
| 2 | Nomination and Remuneration Committee | Member |
| 3 | Stakeholders' Relationship Committee | Chairman |
| 4 | Finance and Investment Committee | Member |
The meeting commenced at 5:00 P.M. and concluded at 6:30 P.M.
VASWANI Stock Price Movement
Vaswani Industries Limited shares today slipped by 2.02% to settle at ₹54.74, reflecting a notable decline from the previous close. The stock traded on a volume of 28,641 shares, closing substantially below its day’s range, which peaked at ₹55.59.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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