Time Technoplast board committees reshuffled in 2024

What changed and why it matters

Time Technoplast Limited has reconstituted several board committees after the company’s board approved a resolution by circulation on September 28, 2024. The changes are effective from the same date. The update was communicated as an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Committee composition is a core part of listed-company governance because it determines who oversees financial reporting, board appointments and remuneration, investor grievances, risk oversight, and corporate social responsibility. For investors, these line-ups matter because they show how responsibilities are distributed between independent directors and executive management.

Chairman and key leadership positions

As per the latest update provided, Sanjaya Kulkarni is the Chairman at Time Technoplast. The board list also identifies him as Chairman and Non-Executive Director. Bharat Kumar Vageria is listed as Managing Director and Chief Financial Officer (CFO).

The company’s disclosed leadership mix includes multiple Whole Time Directors, including Raghupathy Thyagarajan (Whole Time Director), Naveen Kumar Jain (Whole Time Director), and Sanjeev Sharma (Whole Time Director). The board also includes non-executive and independent directors, including Deepak Bakhshi, Pradip Kumar Das, Praveen Kumar Agarwal, and Triveni Makhijani.

Regulation 30 disclosure: committee reconstitution from Sep 28, 2024

The company stated that its board approved the reconstitution by circulation on September 28, 2024, with effect from September 28, 2024. The disclosure lists the committees that were reconstituted and specifies the chairpersons and members, along with each director’s category (independent director, non-executive non-independent, and managing director and CFO).

This structure also indicates which committees are led by independent directors versus executive management. In the disclosed reconstitution, independent directors hold chair roles on several committees, while an executive director leads risk management and CSR.

Audit Committee: chairmanship assigned to an independent director

Post reconstitution, the Audit Committee is chaired by Deepak Bakhshi (Independent Director). The members listed are Triveni Makhijani (Independent Director) and Bharat Kumar Vageria (Managing Director and CFO).

Separately, the company’s board page also describes Deepak Bakhshi as an Independent Director and “Chairman of the Audit and Nomination and Remuneration Committee.” This aligns with the committee chair roles shown in the reconstitution update.

Nomination and Remuneration Committee: independent-led with mixed membership

The Nomination and Remuneration Committee is chaired by Deepak Bakhshi (Independent Director). The members listed are Mahinder Kumar Wadhwa (Non-Executive, Non-Independent Director) and Triveni Makhijani (Independent Director).

This committee typically handles board and senior leadership appointments and remuneration-related matters. The reconstitution shows a mix of independent and non-independent non-executive representation, with the chair being independent.

Stakeholder Relationship Committee: investor-facing oversight

The Stakeholder Relationship Committee is chaired by Pradip Kumar Das (Independent Director). The members listed are Bharat Kumar Vageria (Managing Director and CFO) and Sanjaya Kulkarni (Non-Executive, Non-Independent Director).

In the board list provided, Pradip Kumar Das is also described as an Independent Director and Chairman of the Stakeholder Relationship Committee. This committee is central to addressing shareholder and investor service matters.

CSR and Risk Management: executive chairmanship

The Corporate Social Responsibility Committee is chaired by Bharat Kumar Vageria (Managing Director and CFO). The members listed are Deepak Bakhshi (Independent Director) and Mahinder Kumar Wadhwa (Non-Executive, Non-Independent Director).

The Risk Management Committee is also chaired by Bharat Kumar Vageria (Managing Director and CFO). Members include Raghupathy Thyagarajan (Whole Time Director), Sanjaya Kulkarni (Non-Executive, Non-Independent Director), and Deepak Bakhshi (Independent Director).

Compensation Committee: independent chair, mixed members

The Compensation Committee is chaired by Deepak Bakhshi (Independent Director). Members include Bharat Kumar Vageria (Managing Director and CFO) and Triveni Makhijani (Independent Director).

This design places an independent director in the chair role, with executive participation through the managing director and CFO.

Summary table: committees after reconstitution (effective Sep 28, 2024)

Board and management names cited in the disclosure

The provided data also lists key directors and senior officers associated with Time Technoplast, including Manoj Kumar Mewara (Senior VP Finance, Company Secretary and Compliance Officer). It also lists a broader set of directors, including executive and non-executive directors such as Vishal Jain (Non-Executive Director) and independent directors such as Praveen Kumar Agarwal.

The company’s board page describes Bharat Kumar Vageria as Managing Director and Promoter, and also notes his professional background as a Chartered Accountant with over 35 years of expertise in financial management and corporate governance. It describes Sanjeev Sharma as associated with the company for 26 years and currently designated as President – International Operations, alongside his role as Whole Time Director.

Company contact and registered locations provided

Time Technoplast’s corporate office address is listed as 55, Corporate Avenue, 2nd Floor, Saki Vihar Road, Andheri (East), Mumbai - 400 072, India, with telephone 022-7111 9999 and fax 022-2857 5672. The registered office is listed as 101, 1st Floor, Centre Point, Somnath Daman Road, Somnath, Dabhel, Nani Daman, Daman - 396210.

Market impact

The disclosed material focuses on governance and committee reconstitution, and it does not provide any stock price move, financial results, revenue numbers, or operational performance metrics. As a result, the direct market impact cannot be quantified from the information provided.

What is clear is the allocation of oversight responsibilities. Audit, nomination and remuneration, and compensation are chaired by an independent director (Deepak Bakhshi). Stakeholder relationship oversight is chaired by an independent director (Pradip Kumar Das). Risk management and CSR are chaired by the managing director and CFO (Bharat Kumar Vageria), with independent participation as members.

Analysis: what the committee structure signals

The reconstituted structure shows independent director chairmanship across multiple governance-heavy committees, including audit and nomination and remuneration. This is relevant for investors tracking board independence in oversight roles. At the same time, executive chairmanship of risk management and CSR indicates that the managing director and CFO is positioned as the primary leader for these areas, with board-level participation from both executive and non-executive directors.

The inclusion of the managing director and CFO as a member of the Audit Committee, and as chair of risk management and CSR, also concentrates significant oversight and execution-facing roles with one executive. The disclosure does not provide reasons for these choices, but it does clearly specify the committee composition and effective date.

Conclusion

Time Technoplast has updated the composition of key board committees effective September 28, 2024, through a board resolution by circulation disclosed under SEBI LODR Regulation 30. Deepak Bakhshi chairs the Audit Committee, Nomination and Remuneration Committee, and Compensation Committee, while Bharat Kumar Vageria chairs the Risk Management Committee and CSR Committee. The next governance milestones to watch would typically be subsequent exchange filings or corporate governance disclosures reflecting these committee structures in formal reporting periods, but no further dates are provided in the supplied material.