On April 4, 2025, SMIFS Capital Markets Ltd. held a meeting of the Board of Directors at the company’s registered office and approved significant changes in its leadership structure. Two new directors were appointed to the company’s board, and several committees were reconstituted. Below is an overview of the appointments and changes approved during the meeting:

Appointment of New Directors

1. Mr. Samarth Parekh (DIN: 00199598) has been appointed as an Additional Non-Executive, Non-Independent Director of the company. His appointment takes effect from April 4, 2025. The appointment is subject to the approval of the shareholders at the next General Meeting or within three months from the date of appointment. Mr. Parekh holds a Bachelor's degree in Science from Babson College and has over 15 years of experience in the investment banking field. Additionally, he is the son of Mr. Utsav Parekh, a current director of the company.

2. Mr. Anil Kumar Murarka (DIN: 00571568) has been appointed as an Additional Non-Executive, Independent Director for a term of five consecutive years, starting from April 4, 2025. This appointment is also subject to shareholder approval at the next General Meeting or within three months. Mr. Murarka is a seasoned professional with over 33 years of experience in corporate law, SEBI regulations, and the National Company Law Tribunal (NCLT) matters. He has held several prestigious positions, including serving as the Past President of The Institute of Company Secretaries of India (ICSI).

Board Committee Reconstitution

Along with the appointments, the company also announced the reconstitution of its key board committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholders’ Relationship Committee, and the Committee of Directors. Here are the updated committee compositions:

• Audit Committee:

  • Mr. Utsav Parekh – Non-Executive, Non-Independent Director

  • Mr. Nitin Daga – Non-Executive, Independent Director

  • Mrs. Pushpa Mishra – Non-Executive, Independent Director

  • Mr. Anil Kumar Murarka – Additional, Non-Executive, Independent Director

• Nomination & Remuneration Committee:

  • Mrs. Pushpa Mishra – Non-Executive, Independent Director

  • Mr. Nitin Daga – Non-Executive, Independent Director

  • Mr. Pratik Ghose – Non-Executive, Independent Director

  • Mr. Anil Kumar Murarka – Additional, Non-Executive, Independent Director

• Stakeholders' Relationship Committee:

  • Mrs. Pushpa Mishra – Non-Executive, Independent Director

  • Mr. Kishor Shah – Executive, Non-Independent Director

  • Mr. Nitin Daga – Non-Executive, Independent Director

  • Mr. Anil Kumar Murarka – Additional, Non-Executive, Independent Director

• Committee of Directors:

  • Mr. Utsav Parekh – Non-Executive, Non-Independent Director

  • Mr. Kishor Shah – Executive, Non-Independent Director

  • Mr. Nitin Daga – Non-Executive, Independent Director

  • Mr. Samarth Parekh – Additional, Non-Executive, Non-Independent Director

Conclusion

The appointments and reconstitution of committees reflect the company’s commitment to strengthening its leadership and governance framework. These changes align with SMIFS Capital Markets Ltd.'s ongoing efforts to enhance operational effectiveness and transparency. Shareholders will soon have the opportunity to approve these decisions, which will help guide the company's future strategy and performance.

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