Mega Corporation Limited (MegaCorp) has announced a significant change in the boardroom, with the re-designation of Mr. Kunal Lalani (DIN: 00002756) from Executive Director to Non-Executive Non Independent Director and Chairman of the Company, effective 28th March 2025. The change was approved during the Board of Directors meeting held on the same day, following the recommendation of the Nomination and Remuneration Committee.

Board Approval and Compliance

The re-designation of Mr. Kunal Lalani was finalized based on the recommendations put forth by the Nomination and Remuneration Committee during its meeting held on 28th March 2025. Subsequently, the Board of Directors approved the proposal to re-designate Mr. Lalani as Non-Executive Non Independent Director and Chairman of MegaCorp.

In accordance with the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations), as amended from time to time, MegaCorp has submitted the necessary disclosures to BSE Limited (BSE) for record purposes.

Confirmation of Compliance

Pursuant to BSE Circular No. LIST/COMP/14/2018-19 dated 20th June 2018, and based on the confirmation received from Mr. Kunal Lalani, MegaCorp has affirmed that Mr. Lalani has not been debarred from holding the position of Director by any SEBI order or any other regulatory authority.

Brief Profile of Mr. Kunal Lalani

Mr. Kunal Lalani comes from a highly respected Marwari business family and has been associated with MegaCorp as the Promoter and Executive Director for over a decade. His leadership and strategic decision-making have been pivotal in driving the company’s growth and establishing its presence in the industry.

Mr. Lalani has extensive experience in managing and supervising various business operations, including:

• Expansion of Business: Identifying and exploring new business opportunities for MegaCorp.

• Sourcing New Projects: Evaluating potential projects and strategic investments.

• Overall Management: Overseeing the company’s operations and ensuring operational efficiency.

As a Non-Executive Non Independent Director and Chairman, Mr. Lalani will continue to provide his valuable insights and strategic vision to guide the company's growth.

Terms of Re-designation

Following his re-designation, Mr. Lalani’s office will be liable to retire by rotation as per the applicable regulations and the Articles of Association of the company.

Disclosure of Relationships

As confirmed in the disclosure, Mr. Kunal Lalani is not related to any other Director of the Company, ensuring that there is no conflict of interest in his new role.

Regulatory Adherence

The re-designation aligns with the provisions of:

• Regulation 30 of SEBI (LODR) Regulations, 2015

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023

MegaCorp remains committed to upholding the highest standards of corporate governance and ensuring transparency in its operations.

Impact on MegaCorp’s Strategic Direction

The re-designation of Mr. Lalani as Non-Executive Non Independent Chairman is expected to have a positive impact on MegaCorp’s long-term strategic goals. His continued association with the company in an advisory and oversight capacity will help in shaping the company’s growth trajectory while maintaining operational stability.

Compliance and Disclosures

MegaCorp has duly submitted the requisite disclosures in compliance with the SEBI LODR Regulations and relevant BSE guidelines. All necessary documentation, including confirmation from Mr. Lalani regarding his eligibility, has been furnished to the stock exchanges for record purposes.

Conclusion

The re-designation of Mr. Kunal Lalani marks a significant milestone for MegaCorp as it seeks to strengthen its leadership structure while ensuring continuity in its strategic vision. Mr. Lalani’s vast experience and industry knowledge will continue to play a key role in driving MegaCorp’s growth in the years ahead.

MegaCorp remains committed to maintaining regulatory compliance and adhering to best practices in corporate governance to protect the interests of its shareholders and stakeholders.

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