Smartworks Strengthens Board with New Appointment of Independent Directors

Smartworks Coworking Spaces Limited ("Smartworks" or "the Company"), India's largest managed office platform by total area under management, has announced the strengthening of its Board with the appointment of Mr. Rajeev Krishnamuralilal Agarwal as an Additional Non-Executive and Independent Director of the Company, and the recommendation for the appointment of Justice (Retd.) Dilip Deshmukh as a Non-Executive and Independent Director of the Company, subject to the approval of the Company's shareholders.

These developments further strengthen Smartworks' Board with deep expertise spanning capital markets, financial regulation, corporate governance, and judicial and corporate adjudication, reinforcing the Company's overall governance framework.

Commenting on the development, Neetish Sarda, Founder and Managing Director, Smartworks, said: "Strong governance has always been central to how we have built Smartworks, and it will remain just as important as we continue to grow. We are pleased to welcome Mr. Rajeev Krishnamuralilal Agarwal to our Board, and are equally pleased with the Board's recommendation to appoint Justice (Retd.) Dilip Deshmukh, subject to shareholders' approval. Their respective experience across capital markets, regulation, and judicial and corporate governance will meaningfully strengthen our Board's oversight and further reinforce the institutional foundation we are building for the long term."

This strengthening of the Board reflects Smartworks' continued focus on its governance standards and Board composition.

Mr. Rajeev Krishnamuralilal Agarwal is a distinguished former Whole-Time Member of the Securities and Exchange Board of India (SEBI) and an Indian Revenue Service (IRS) officer from the 1983 batch. During his tenure at SEBI, he oversaw key policy and regulatory areas including securities markets, mutual funds, foreign portfolio investments, market intermediaries, surveillance and enforcement. He also played an important role in significant regulatory reforms, including the introduction of the Offer for Sale (OFS) mechanism, strengthening market governance frameworks, and enhancing investor protection. He currently serves on the boards of several leading listed and financial services companies.

Justice (Retd.) Dilip Deshmukh is a distinguished legal and judicial veteran with over four decades of experience across the judiciary and corporate adjudication. He previously served as Chairman of the Company Law Board (now the National Company Law Tribunal) and as a Judge of the Chhattisgarh High Court. Following his judicial tenure, he has established a practice in domestic and international arbitration. His deep expertise in corporate law, governance and judicial administration will further enhance the Board's governance capabilities.

Shares of Smartworks Coworking Spaces Limited was last trading in BSE at Rs. 489.20 as compared to the previous close of Rs. 480.75. The total number of shares traded during the day was 7926 in over 250 trades.

The stock hit an intraday high of Rs. 493.55 and intraday low of 475.95. The net turnover during the day was Rs. 3870042.00.

Source : Equity Bulls

Keywords

SmartworksCoworkingSpaces INE0NAZ01010 Appointment IndependentDirectors