Fly-Hi Maritime Travels Limited assembled board in December

Fly-Hi Maritime Travels Limited assembled most of its formal governance structure in December 2025, when it installed all three independent directors and appointed its chief financial officer and company secretary-compliance officer. The five-member board has three independent directors, while the two promoters held 80.00% of pre-issue equity capital.

Why did Fly-Hi Maritime Travels assemble its governance structure in December 2025?

Fly-Hi Maritime Travels built the disclosed board and committee structure shortly after its conversion from Fly-Hi Maritime Travels Private Limited to a public limited company on December 5, 2025. The company had been incorporated on September 9, 2021, so the conversion occurred more than four years after incorporation. Its registered office also moved within New Delhi on December 16, 2025, with administrative ease given as the reason.

The December 2025 sequence included director appointments, executive redesignations, key managerial appointments and committee formation. The company re-designated its two promoter directors on December 16, 2025, appointed the chief financial officer and company secretary-compliance officer on that date, and constituted three board committees on December 18, 2025. The board also adopted insider-trading and related-party transaction policies on December 18, 2025 in view of the proposed public issue.

The prospectus states that the five-member board complies with the corporate-governance requirements of the Companies Act, 2013. It also says that specified provisions of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, or SEBI LODR Regulations, were not applicable as of the prospectus date, while the provisions identified as applicable will apply upon listing. The structure’s continuing operation therefore depends on the board and committees following the policies and terms approved in December 2025.

Who became Fly-Hi Maritime Travels’ independent directors?

Fly-Hi Maritime Travels appointed all three non-executive independent directors in December 2025, leaving independent directors with three of five board seats. Arshita Singh joined on December 1, 2025, while Vipin Kumar Chhawchharia and Deepesh Mittal joined on December 16, 2025. Each appointment has a stated five-year term, and none is liable to retire by rotation.

The directors’ disclosed skills span legal, secretarial-compliance and financial-control work. Arshita Singh holds a Master of Laws in business law and practises before tribunals and courts in Mumbai. Vipin Kumar Chhawchharia’s profile cites secretarial compliance and corporate-governance experience, while Deepesh Mittal’s profile cites auditing, due diligence, investigations, valuation and financial controlling.

Independent board representation does not change the disclosed ownership position. Jitendra Kumar Negi held 49.05% and Mridul Dilip Singhvi held 30.95% of the company’s equity shares as of the prospectus date, together representing 80.00%. None of the three independent directors held equity shares, separating the board’s independent representation from voting control held by the two promoters.

How did December 2025 change Fly-Hi Maritime Travels’ management?

Fly-Hi Maritime Travels appointed Pinki Dipesh Mistry as chief financial officer and Renu Agrawal as company secretary and compliance officer on December 16, 2025. On the same date, Jitendra Kumar Negi was re-designated managing director and chairman, and Mridul Dilip Singhvi was re-designated whole-time director. The two executive directors have five-year terms running from December 16, 2025 to December 15, 2030.

Pinki Dipesh Mistry has 22+ years of overall experience and is responsible for financial planning, bank submissions and statutory compliance, according to the prospectus. Her compensation for financial year 2025-26 was Rs 4.32 lakh. Renu Agrawal has 13+ years of overall experience, is a fellow member of the Institute of Company Secretaries of India, and received Rs 0.88 lakh in financial year 2025-26 for the compliance role.

The company also designated Ankurh Sadashiv Kavadkar as manager, travels, and Jovina Neil Quinney as admin head on December 16, 2025. Both had been associated with Fly-Hi Maritime Travels since December 1, 2021, but were formally identified as senior management personnel in December 2025. This distinguishes the date of their operating association from the date of their disclosed senior-management designation.

What oversight do Fly-Hi Maritime Travels’ committees provide?

Fly-Hi Maritime Travels constituted its Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee at a board meeting on December 18, 2025. The three committees were formed two days after the appointments of the chief financial officer, company secretary-compliance officer and two independent directors. Their creation supplies the statutory committee framework disclosed in the prospectus.

The Audit Committee is chaired by Deepesh Mittal, with Vipin Kumar Chhawchharia and Jitendra Kumar Negi as members. Its quorum is two members or one-third of its membership, whichever is higher. The committee’s stated remit includes financial statements, auditor independence, internal financial controls, related-party transactions and review of the use of funds raised through an issue.

The Nomination and Remuneration Committee consists solely of Arshita Singh, Vipin Kumar Chhawchharia and Deepesh Mittal, with Arshita Singh as chairperson. It must meet at least once a year for a review of managerial remuneration. The Stakeholders Relationship Committee is chaired by Vipin Kumar Chhawchharia and includes Deepesh Mittal and Mridul Dilip Singhvi; its meeting quorum requires at least one independent director.

The prospectus says the Audit Committee may investigate matters in its remit, seek information from employees, obtain outside professional advice and access company records. The committee can therefore examine internal controls and financial reporting through its stated powers. The board’s December 18, 2025 insider-trading policy will apply in connection with the proposed listing, while the SEBI Prohibition of Insider Trading Regulations, 2015 apply immediately on listing of the equity shares.

Conclusion

Fly-Hi Maritime Travels moved from its December 5, 2025 public-company conversion into a formal governance configuration within 13 days. The disclosed outcome is a five-member board with three independent directors, dedicated finance and compliance officers, and three committees, alongside promoter ownership of 80.00% of pre-issue equity capital.

The next point to watch is the operation of structures approved on December 18, 2025, particularly the Audit Committee’s stated review of financial reporting, related-party transactions and use of issue proceeds. The prospectus discloses that insider-trading requirements and applicable SEBI LODR provisions will take effect upon listing, making post-listing implementation the later governance milestone.