Swati Projects Limited, a Kolkata-based company, has released important updates following its Board Meeting on January 10, 2025. The meeting covered key developments including the appointment of a new Chief Financial Officer (CFO) and the approval of unaudited financial results for the quarter ending December 31, 2024.

Key Developments from the Board Meeting

1. Appointment of Chief Financial Officer (CFO)

The Board approved the appointment of Mr. Piyush Lakhotia as the company's new Chief Financial Officer (CFO), replacing Mr. Shashi Kumar, who resigned on January 1, 2025.

• Name: Piyush Lakhotia
• Age: 29 years
• Qualifications:
  • B.Com graduate
  • Diploma in Software Engineering from NIIT (2017)
• Experience:
  With nearly three years of expertise, Mr. Lakhotia specializes in finance, accounts, indirect taxation, planning audits, MIS reporting, and compliance.
• Board's Opinion: The Board expressed confidence in his energetic and knowledgeable approach to assuming the CFO role.

2. Financial Performance

The Board approved the unaudited financial results (both standalone and consolidated) for the quarter ending December 31, 2024. The results were accompanied by the Auditor's Limited Review Report, as required under Regulation 33 of SEBI Listing Regulations.

Key highlights of the financial performance:

• Standalone and consolidated results reflect the company’s operational growth.
• The reports ensure compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3. Regulatory Declarations

The company made the following declarations as part of its compliance:

• Statement of Deviation: Submitted as per Regulation 32(1) for the quarter ending December 2024.
• Non-Applicability of Regulations: Declared for Regulations 52(4), 52(5), and 52(7) of SEBI (LODR) Regulations, 2015.

Compliance and Transparency

Swati Projects Limited continues to adhere to SEBI guidelines, ensuring that all necessary disclosures are made timely. The company has submitted detailed reports and statements, including the new CFO’s profile and financial results, to the Bombay Stock Exchange (BSE).

Significance for Stakeholders

These developments signal Swati Projects' commitment to strengthening its leadership and maintaining robust financial transparency. The appointment of a young and dynamic CFO is expected to drive operational efficiency and strategic growth.

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