Persistent Systems Limited approved the reappointment of four independent directors and two internal restructuring proposals at its board meeting held on June 8, 2026.
The board recommended the reappointment of Ms. Avani Davda as an Independent Director for a second term of five consecutive years from December 28, 2026, to December 27, 2031. Her current term ends on December 27, 2026. Mr. Arvind Goel was recommended for reappointment for a second term from June 7, 2027, to June 6, 2032. His current term ends on June 6, 2027. Dr. Ambuj Goyal was recommended for reappointment for a second term from June 7, 2027, to October 31, 2031, the month end of his attaining 75 years. Mr. Dan'l Lewin was recommended for reappointment for a second term from June 10, 2027, to April 30, 2029, also the month end of his attaining 75 years.
All four reappointments are subject to shareholder approval at the 36th Annual General Meeting scheduled for July 2026.
Persistent Systems board approved the transfer of 100% shareholding of Persistent Systems UK Limited from Persistent Systems Limited, India to Aepona Group Limited, Ireland as part of internal restructuring to achieve entity rationalisation and operational efficiency. Persistent Systems UK Limited will become a wholly owned subsidiary of Aepona Group Limited upon execution of the Share Purchase Agreement. The restructuring does not involve any benefit to the promoter, promoter group, or group companies.
Persistent Systems board also approved the merger of MediaAgility India Private Limited, a wholly owned subsidiary, by absorption into Persistent Systems Limited.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.