Technocraft Industries (India) Limited, a renowned company based in Mumbai, has recently announced the reappointment of Mr. Navneet Kumar Saraf and Mr. Ashish Kumar Saraf as the Whole-Time Directors for a period of five years, extending their leadership till February 5, 2030. This decision was made following a recommendation by the Nomination and Remuneration Committee and approved by the company's Board of Directors in their meeting on February 11, 2025. The reappointment is now subject to the approval of the shareholders.

Key Highlights of the Reappointment

Both directors had previously held their positions for a term of five years, which expired on February 5, 2025. Their reappointment for another five years signifies the company's trust in their leadership and their integral role in the organization's strategic direction. This move is aligned with the company's commitment to good corporate governance as per SEBI Listing Regulations, ensuring continuous leadership and stability.

Navneet Kumar Saraf's Leadership

Mr. Navneet Kumar Saraf holds a Bachelor's degree in mechanical engineering from the University of Manchester, United Kingdom, and has been instrumental in diversifying the business into the value-added scaffolding and formwork industry, which has now become a key $80 million business for the group. Additionally, his leadership in founding and growing Technosoft Engineering Projects Ltd has been significant, with over 500 engineers operating in various countries including India, USA, Canada, UK, and Germany. Mr. Saraf is an active member of several prestigious organizations such as Young Presidents Organisation (YPO) and The Indus Entrepreneurs (TiE).

Ashish Kumar Saraf's Expertise

Mr. Ashish Kumar Saraf, a graduate in Commerce from the University of Mumbai and a Master's degree in Textile Technology from Manchester University, UK, brings his expertise in textile management to the leadership team. His academic background, including a specialized course on Cotton Management from Rhodes Institute, Memphis, USA, has greatly contributed to Technocraft's expansion in the textile sector. His leadership and strategic vision have been critical in maintaining the company’s growth trajectory over the years.

Both Mr. Navneet Kumar Saraf and Mr. Ashish Kumar Saraf are closely related as sons of Mr. Sudarshan Kumar Saraf and Mr. Sharad Kumar Saraf, respectively, placing them at the core of the Saraf family’s business empire.

Compliance with SEBI Listing Regulations

As per Regulation 30 of SEBI Listing Obligations & Disclosure Requirements Regulations, 2015, the company has disclosed all necessary information regarding the reappointment process, which complies with the regulatory guidelines set forth by SEBI. The company’s commitment to transparency and corporate governance ensures that such reappointments are carried out following the legal and procedural framework.

This strategic move ensures that the company will continue to benefit from the Saraf family’s leadership while adhering to governance standards.

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