Unitech Ltd

Appointment of CMD

• Shri Giridhar Aramane, IAS (Retd.), appointed CMD of Unitech Limited for two years from joining (25 Aug 2026).
• Term ends two years from joining, i.e., 25 Aug 2028, subject to extension or earlier cessation.
• Remuneration fixed at Rs 5 lakh per month consolidated pay plus company leased accommodation.
• Profile: IAS officer, 1988 batch; Defence Secretary 2022-2024 with extensive central and state governance experience.
• There is no relation with other directors on Unitech's Board.
• Shri Aramane is not debarred by SEBI or other authorities.
• Reason: Supreme Court approved replacement of former CMD following termination of tenure.

Financial results approved

• Unaudited standalone and consolidated results approved for quarter ended 30 June 2026.
• Limited Review Reports on standalone and consolidated results enclosed.

Auditor remarks

• Auditors issued disclaimer of conclusion for going concern and legacy issues.
• Non-compliance with Listing Regulations: 80% audit coverage not met for consolidation.

Board changes and governance

• Uma Shankar resigned as director effective 7 March 2026; no woman director appointed yet.
• Board comprises Government-appointed nominee directors; MCA to appoint woman director.

Regulatory and legal matters

• Ongoing Supreme Court resolutions and Resolution Framework affecting liabilities and projects.
• Enforcement Directorate provisional attachment of Unitech Hi-Tech Developers assets; investigation ongoing.
• PwC appointed by Supreme Court to evaluate proposed solutions; next hearing 30 September 2026.

Other material disclosures

• Auditor notes ongoing legacy issues and going concern uncertainty across group.

End of CMD Tenure

• MCA extended Yudhvir Malik's CMD tenure by six months to 20 July 2026.
• Ending of tenure on 20 July 2026; no replacement appointment communicated yet.
• Board noted the tenure end in the meeting held on 20 July 2026.
• Company will inform stock exchanges as soon as MCA provides new appointment details.

Auditor re-appointments

• Board meeting held on 16 July 2026 approved the re-appointments.
• Re-appointment of Pant S. & Associates as Cost Auditors for FY 2026-27.
• Statutory Auditors: 5-year term from conclusion of ensuing AGM to conclusion of 60th AGM, subject to Members' approval.
• Pant S. & Associates is a leading cost accounting firm with nationwide presence.
• GSA & Associates LLP has over 50 years in practice.

Dematerialisation status

• Securities received for dematerialisation were mutilated and cancelled after verification.
• Depository substituted as registered owner within 15 days; details furnished to Stock Exchange.
• Dematerialised securities are listed on the stock exchanges where the original issue is listed.

Resignation of Chief Financial Officer (CFO)

• Mr. Tajinder Pal Singh Madan resigned as Chief Financial Officer.
• Resignation effective at close of working hours on 29 May 2026.
• Reason stated: he had to move out of Gurugram due to personal reasons.
• Company confirmed no other material reasons for resignation.
• Board accepted the resignation in its meeting on 28 May 2026.

Resignation

• Mrs. Uma Shankar, Nominee Director (Non-Executive), resigned from Unitech Limited.
• Resignation was effective from 07 March 2026.
• She cited personal reasons and immediate relinquishment of responsibilities.
• She confirmed no other material reasons for resignation.

Board roles

• She held no board committee memberships at Unitech Limited in the filing.
• MCA acknowledged the resignation and asked Unitech to complete statutory compliances.
• No shareholder approval was mentioned for the resignation to take effect.

Other directorships

• She was an Independent Director at The Karnataka Bank Limited, on its Audit Committee.
• She was an Independent Director at NCC Limited, on its Audit and Stakeholders Relationship Committees.