On July 15, 2025, Mid East Portfolio Management Limited held its Board of Directors meeting at its registered office in Mumbai, where it approved significant changes in the company’s leadership. In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in line with the SEBI Circular dated July 13, 2023, the company formally announced:

• Three new appointments to the Board, including a new Chief Financial Officer (CFO) and two Additional Independent Directors, all subject to shareholder approval.

• Acceptance of resignations from Mrs. Jyoti Kishor Shah, Promoter Director and outgoing CFO, and Mr. Sharad Kulkarni, Non-Executive Independent Director.

The Board meeting was convened at 11:00 a.m. and concluded by 11:30 a.m. at the company’s registered office located at 1/203, Vishal Complex, Narsing Lane, S.V. Road, Malad (West), Mumbai – 400064.

Key Appointments Made by the Board

The Board of Directors approved the appointment of the following individuals to key positions on the Board, effective 15th July, 2025:

1. Ms. Poonam Kishor Shah

• Designation: Executive Director and Chief Financial Officer

• DIN: 00027476

• Term: Three years (15th July 2025 – 14th July 2028)

• Background:
  Ms. Shah brings over 16 years of experience in the financial services industry. She has previously handled NRI client portfolios, equity broking, valuation, research, and financial analysis.
  Her academic credentials include:

  • Level III CFA (USA) – Passed in 2017

  • MBA in Finance – Zicklin School of Business, Baruch College, CUNY, New York

  • PG Diploma in Family Business Management – NMIMS, Mumbai

  • BMS – Bhavans College, University of Mumbai
    She also holds valid NISM certifications in Securities Operations and Merchant Banking.

  • Relationship Disclosure: Daughter of Promoters Kishor A. Shah and Jyoti K. Shah

  • Debarment Declaration: Not debarred or disqualified by SEBI, MCA, or any authority.

2. Ms. Rakhi Jayantilal Upadhyay

• Designation: Additional Independent Director

• DIN: 09645180

• Term: One year (15th July 2025 – 14th July 2026)

• Background:
  Ms. Upadhyay holds a science degree with majors in Microbiology, Genetics, and Biochemistry from the University of Mumbai. With over 25 years of experience, she has worked extensively in NPA management, debt recovery, client servicing, and HR. She has collaborated with both nationalized and private banks to develop due diligence modules and specialized reports.

  • Relationship Disclosure: No familial relations with any other directors

  • Debarment Declaration: Not disqualified under Companies Act, 2013 or by regulatory bodies.

3. Mr. Sandipbhai Pravinbhai Patel

• Designation: Additional Independent Director

• DIN: 10849576

• Term: Three years (15th July 2025 – 14th July 2028)

• Background:
  A Practicing Chartered Accountant, Mr. Patel is the proprietor of M/s S.P. Patel & Co, with over 8 years of experience in:

  • Company and Tax Audits

  • GST and Bank Audits

  • Income Tax, Company Law, and Sales Tax Matters

  • Transactional Audits and Valuation Services

  • Relationship Disclosure: No relationships with any other directors

  • Debarment Declaration: No restrictions or disqualifications reported

Resignations Accepted by the Board

Alongside these appointments, the Board has formally accepted the resignations of two senior members of the company:

1. Mrs. Jyoti Kishor Shah

• Designation: Promoter Director & CFO

• DIN: 00020912

• Effective Date of Resignation: 15th July, 2025

• Reason: Due to age-related considerations, Mrs. Shah expressed her unwillingness to continue.
  Her contribution to the company’s financial leadership and governance has been substantial over the years.

2. Mr. Sharad Laxman Kulkarni

• Designation: Non-Executive Independent Director

• DIN: 07672266

• Effective Date of Resignation: 15th July, 2025

• Reason: Due to health issues and age factor, Mr. Kulkarni stepped down from his role.
  He has been an instrumental part of Mid East Portfolio’s compliance and strategic direction as an independent voice on the Board.

Regulatory Compliance and Corporate Governance

The company has submitted this disclosure in compliance with:

• SEBI LODR Regulation 30

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023

Full details, including educational qualifications, professional experience, relationships, and declarations related to debarment or disqualification, are enclosed as Annexure I of the company’s corporate filing with BSE under Scrip Code 526251.

These transitions reflect Mid East Portfolio’s commitment to board refreshment, diversity, and governance excellence, while maintaining continuity and strategic clarity for the company’s shareholders and stakeholders.

About Mid East Portfolio Management Limited

Mid East Portfolio Management Limited, headquartered in Mumbai, is a BSE-listed company with a presence in investment advisory, financial portfolio management, and related services. With a strong commitment to ethical governance and regulatory compliance, the company continues to evolve its leadership in line with its long-term strategic objectives.

Conclusion

The Board decisions taken on 15th July, 2025, mark a significant milestone for Mid East Portfolio Management Limited. The company has successfully inducted a new generation of leadership while ensuring a dignified exit for its senior contributors.

These boardroom changes signal a commitment to renewal, compliance, and long-term value creation, as the company strengthens its executive and independent oversight roles in alignment with SEBI and Companies Act mandates.

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