Global Infratech & Finance Limited has announced that it will hold a Monitoring Committee meeting on December 3, 2024, following the approval of its resolution plan by the National Company Law Tribunal (NCLT) in its order dated October 25, 2024. The meeting will be conducted virtually via video conferencing.

Key Agenda Items of the Monitoring Committee Meeting

The meeting will address several key corporate governance issues that will shape the company's future operations and leadership. The agenda includes the change in management, with a focus on the appointment of new Executive and Non-Executive Directors, including a women director. This marks a significant move towards enhancing the diversity and leadership structure of the company’s board.

The meeting will also include the acceptance of several resignations, which are a crucial part of the restructuring process:

• Mrs. Sarita Bissa, the Non-Executive, Non-Independent Director, has tendered her resignation, which will be considered during the meeting.
• Two Independent Directors, Mr. Shravan Magan Sangale and Mr. Sonu Tiwari, will also resign, and the meeting will address the formal acceptance of their departures.

Appointment of New CFO

Another important decision to be discussed is the resignation of the current CFO, Mr. Chandrasekhar G. Purohit, and the appointment of a new CFO to take over his responsibilities. This shift in the executive team is aimed at strengthening the company’s financial management and leadership.

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Relocation of Registered Office

Finally, the shift of the company’s registered office to a new location within the city limits of Mumbai, Maharashtra will be reviewed. This change is part of the company’s efforts to streamline operations and ensure better accessibility for stakeholders.

Corporate Restructuring in Line with NCLT Approval

These developments are part of the broader corporate restructuring plan approved by the NCLT, aimed at improving the company's governance framework and operational efficiency. The approval of the resolution plan marks a significant step towards the company's future growth and alignment with regulatory requirements.

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