Diva Organic Living: CFO exit, AGM set for Dec 2025

Key disclosures in the company’s regulatory filings

Diva Organic Living Limited, formerly known as White Organic Retail Limited, has made multiple disclosures to the stock exchanges covering board actions, AGM planning, and changes in key managerial personnel. The updates include the extension-related board circular resolution for the company’s 14th Annual General Meeting (AGM), a scheduled board meeting to approve AGM-related items, and resignations at the CFO and compliance function level. The company also outlined that the AGM will be conducted through video-based modes, reflecting the permitted framework for shareholder meetings through VC or other audio-visual means.

These filings matter because they combine shareholder-process milestones with management changes that fall under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For investors, such disclosures typically help track governance continuity, compliance oversight, and upcoming shareholder decision points.

Board circular resolution on AGM extension

The board approved a circular resolution passed on September 09, 2025 regarding the extension of the 14th AGM of the company. The same set of board-level updates also noted that the directors reviewed compliance-related matters. The company did not disclose the cut-off date for voting in the same communication and stated it would be intimated in due course.

The disclosures indicate that AGM planning was handled through both circular resolution and subsequent board meeting consideration. This is consistent with how listed companies often document procedural steps, especially when meeting timelines are revised.

14th AGM date, time, and meeting mode

The company disclosed that its 14th AGM will be held on Saturday, December 06, 2025 at 3 p.m. The AGM is planned through Video Conferencing (VC) and/or Other Audio-Visual Means (OAVM). The company stated that the cut-off date for the AGM-related processes will be communicated later.

For shareholders, the key actionable point from the disclosure is the date and time of the AGM and that the meeting will be conducted electronically. Details such as the notice, agenda items, and cut-off date are expected to follow through the formal AGM notice.

Board meeting scheduled for October 10, 2025

White Organic Retail Ltd informed BSE that a meeting of the board of directors was scheduled on October 10, 2025. As per the intimation, the agenda included:

1. Taking note of the circular resolution passed by the board on September 09, 2025.
2. Reviewing compliance-related matters.
3. Approving the date, time, and draft notice of the AGM.
4. Taking note of the resignation of Ms. Najmaa Shaikh, CFO (Chief Financial Officer).
5. Considering any other matters.

The agenda points tie governance, compliance review, and AGM approvals with leadership changes, indicating that multiple statutory and disclosure-linked items were placed before the board in the same meeting cycle.

CFO resignation disclosed under Regulation 30

Diva Organic Living made a Regulation 30 (LODR) disclosure regarding the resignation of Ms. Najma Shakeel Shaikh from the position of Chief Financial Officer of the company. Separately, the company’s leadership change note stated that Ms. Najmaa Shakeel Shaikh, CFO and KMP, resigned effective September 29, 2025, citing personal reasons.

The disclosure also referenced that an update would follow as the company identifies a new CFO and KMP. The leadership change communication was stated to be made by Syamdas Sivadas, Managing Director (DIN: 10648580).

Company secretary and compliance officer: appointment and later resignation

The company disclosed that in a board meeting held on July 14, 2025, it appointed Mrs. Ashwini Purav Vithalani, a qualified company secretary (ICSI Membership No. A37891), as Company Secretary and Compliance Officer with effect from October 15, 2025.

In a later update, Diva Organic Living Limited announced that CS Ashwini Purav Vithalani resigned from her position as Company Secretary and Compliance Officer effective April 20, 2026. The stated reason was personal reasons, with her resignation letter citing unavoidable circumstances. The company informed BSE Limited under SEBI LODR Regulations and stated it is in the process of identifying and appointing a new and appropriate compliance officer, with details to be communicated in due course.

Rescheduling of an earlier board meeting

The company also disclosed a rescheduling of a board meeting that was originally to be held on August 30, 2025. This meeting was revised to September 02, 2025 due to unavoidable circumstances.

While the disclosure does not connect this change directly to any single agenda item, it adds to the sequence of procedural updates around board decision-making during that period.

Snapshot of key events and effective dates

Shareholding pattern disclosed for recent quarters

The data provided showed the promoter holding at 35.45% across multiple periods, with investors holding 64.55%.

Corporate context and governance background

Diva Organic Living Limited is a public company incorporated on December 19, 2011 and is listed, with its registered jurisdiction at ROC Mumbai I. It disclosed an authorised capital of ₹33.00 crore and paid-up capital of ₹32.72 crore, indicating 99% capital utilisation as per the provided corporate information. The company’s principal business activity was stated under NIC code 46 (wholesale trade, except of motor vehicles and motorcycles).

As background on governance changes, the company’s corporate governance note for FY 2022-23 recorded appointments of independent directors Archana Chirawawala, Abhay Sethia, and Sneha Zabak with effect from September 03, 2022. It also recorded changes in the company secretary and compliance officer role, including the resignation of Meghal Mehta (October 14, 2022) and the appointment and later resignation of Mansi Shah (appointed October 18, 2022; resigned April 29, 2023).

Why these disclosures matter for investors

AGM-related timelines, including extension approvals and formal notice finalisation, affect when shareholders receive resolutions and vote. Separately, resignations of KMP such as the CFO, and later the compliance officer, are tracked closely because they touch financial oversight and regulatory compliance processes. In this case, the company has stated it is identifying replacements and will communicate details to the exchanges in due course.

The next formal milestones indicated in the disclosures include the issuance of the AGM notice and the intimation of the cut-off date for the AGM. Investors typically monitor these updates for clarity on agenda items and procedural deadlines.