Narendra Properties Limited’s Board of Directors has approved the payment of remuneration for consultancy services to Mr. Nishank Sakariya, Mr. Narendra C Maher, and Mr. Narendra Sakariya for the period from January 1, 2027, to December 31, 2027. Additionally, Ms. Kavita Patel has been re-appointed as an Independent Director for a second five-year term, commencing December 27, 2026.
Director Remuneration and Consultancy Approvals
Narendra Properties Limited has announced key decisions made by its Board of Directors, including the approval of remuneration for several individuals serving in consultancy roles. Mr. Nishank Sakariya, a Non-Executive Director, will receive remuneration for consultancy services from January 1, 2027, through December 31, 2027. The monthly remuneration for Mr. Sakariya is capped at ₹2,50,000.
Furthermore, Mr. Narendra C Maher, a Promoter, will be compensated with consultancy fees from January 1, 2027, to December 31, 2027, not exceeding ₹9,00,000 per annum. Similarly, Mr. Narendra Sakariya, also a Promoter, will receive consultancy fees for the same period, with an annual cap of ₹9,00,000. These payments were recommended by the Nomination & Remuneration Committee and approved by the Audit Committee and the Board.
Independent Director Re-appointment
In a significant governance move, Ms. Kavita Patel (DIN: 09433199) has been re-appointed as an Independent Director for a second term. This re-appointment is effective for five consecutive years, starting from December 27, 2026, and concluding on December 26, 2031. Ms. Patel is not liable to retire by rotation during this extended tenure.
Ms. Patel’s profile indicates she is qualified to serve as an Independent Director, having cleared the Online Proficiency Self-Assessment Test administered by the Indian Institute of Corporate Affairs. She is also registered in the Independent Directors Data Bank. Her skills are relevant to the construction industry, encompassing areas such as interior design, project conceptualization, financial management, and client relations.
Investment Authorization
The Board also authorized the company to make investments, loans, and guarantees beyond the limits prescribed under Section 186 of the Companies Act, 2013, up to a sum of ₹50 Crores.
Key Managerial Personnel Authorization
In line with regulatory requirements, the following Key Managerial Personnel are authorized to determine the materiality of events or information and to make disclosures to the stock exchanges: Mr. Chirag N Maher (Managing Director) and Mr. Rishabh Haran (Company Secretary and Compliance Officer).
Source: BSE
