Suratwwala Business Group Limited has officially announced changes in its Key Managerial Personnel (KMP), following a board meeting held on 2nd April 2025. The company, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosed that Mr. Deepak Shamlal Kalera, the Chief Financial Officer (CFO) and Key Managerial Personnel, has tendered his resignation, effective from the close of business hours on 4th April 2025.

Resignation of Deepak Kalera

Mr. Deepak Shamlal Kalera, who has been serving as the CFO, cited personal commitments and his decision to explore opportunities outside the organization as the primary reasons for his departure. The board has acknowledged his contributions, appreciating his work and dedication to the company's financial operations.

Furthermore, Mr. Kalera confirmed that there were no material reasons for his resignation apart from those stated in his letter dated 2nd April 2025. His resignation has been formally recorded as part of the company’s regulatory disclosures to BSE and NSE.

Appointment of Manish Kasliwal as New CFO

To ensure continuity and stability, the company has appointed Mr. Manish Kasliwal as the new Chief Financial Officer and Key Managerial Personnel, effective 5th April 2025. His appointment follows the recommendations from the Nomination and Remuneration Committee, along with approval from the Audit Committee.

Mr. Kasliwal, an accomplished Chartered Accountant with over 20 years of experience, has expertise in financial reporting, taxation, auditing, risk management, and corporate governance. His strong leadership skills and strategic financial planning abilities make him an ideal choice to lead the finance department at Suratwwala Business Group.

His appointment aligns with the company’s vision of strengthening financial governance and ensuring sustainable business growth. His track record includes effective treasury management, banking relations, compliance, and regulatory adherence, which will be crucial in steering the company’s financial operations forward.

Board's Decision and Regulatory Compliance

The board meeting, which commenced at 12:20 PM on 2nd April 2025, concluded at 1:15 PM, during which the resignation and appointment were officially approved. The company has submitted all necessary disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and has provided details to stock exchanges in compliance with SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023.

The official filing included:

• Annexure-I: Details of Mr. Deepak Shamlal Kalera’s resignation.

• Annexure-II: Details regarding the appointment of Mr. Manish Kasliwal.

• Annexure-III: Copy of Mr. Kalera’s resignation letter.

The updated list of authorized personnel responsible for determining material disclosures to the stock exchanges was also provided.

Key Takeaways from the Appointment

• Mr. Manish Kasliwal brings a wealth of finance and taxation experience to the company.

• His appointment aligns with the company’s long-term financial strategies and growth plans.

• The transition process is structured to ensure a smooth shift in leadership without disrupting operations.

Impact on Suratwwala Business Group

The change in CFO is a significant event for Suratwwala Business Group, as financial leadership plays a critical role in business expansion, compliance, and strategic decision-making. Investor confidence, stock market performance, and internal financial stability are expected to remain strong under the guidance of Mr. Kasliwal.

The company has assured that the transition has been carefully planned and is expected to bring positive developments. The finance department will continue focusing on strengthening financial controls, improving reporting standards, and enhancing overall operational efficiency under the new leadership.

With this leadership shift, Suratwwala Business Group is poised to enhance its financial strategy, maintain its compliance with regulatory frameworks, and explore new growth opportunities in the coming years.

This development marks an important milestone in the company's journey, with the leadership transition set to further strengthen its financial governance and corporate strategy.

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