Aurum PropTech Limited (NSE:AURUM) announced on July 20, 2026, that its Board of Directors approved three governance decisions: the cessation of Independent Director Dr. Padma Deosthali upon completion of her tenure effective July 22, 2026; the appointment of Ms. Pranali Desale, Company Secretary and Compliance Officer, as Nodal Officer for Investor Education and Protection Fund Authority coordination; and the engagement of M/s. Varma & Varma as Internal Auditor for financial year 2026–27.
Key Highlights
- Dr. Padma Deosthali (DIN: 09250994) will cease to be an Independent Director with effect from July 22, 2026, upon completion of her tenure, as approved by the Board.
- Ms. Pranali Desale, currently Company Secretary and Compliance Officer, has been appointed as Nodal Officer for verification of claims and coordination with the Investor Education and Protection Fund Authority.
- M/s. Varma & Varma, Chartered Accountants, has been appointed as Internal Auditor of the Company for the financial year 2026–27 under the Companies Act, 2013.
- M/s. Varma & Varma is an established firm with over nine decades of professional experience, operating nine offices across five states with 35 partners and over 600 professionals.
- The Board meeting commenced at 10:00 a.m. and concluded at 12:05 p.m. on July 20, 2026, per the Regulation 30 disclosure under the Listing Obligations and Disclosure Requirements Regulations, 2015.
About the Company
Aurum PropTech Limited is a real estate technology company listed on the National Stock Exchange of India (NSE:AURUM) and the Bombay Stock Exchange (BSE:539289). The company is headquartered in Navi Mumbai, with its registered office at Aurum Q1, Aurum Q Parc, Thane Belapur Road, Navi Mumbai, Maharashtra. The company operates in the real estate and property technology sector, leveraging digital platforms and technology solutions for the real estate industry. Aurum PropTech is subject to the regulatory framework of the Securities and Exchange Board of India (SEBI) under the Listing Obligations and Disclosure Requirements Regulations, 2015.
Announcement in Detail
The Board of Directors of Aurum PropTech Limited, meeting on July 20, 2026, approved the cessation of tenure of Dr. Padma Deosthali, who holds DIN 09250994. Dr. Deosthali will cease to be an Independent Director of the Company effective July 22, 2026, upon completion of her tenure. This cessation does not involve resignation, removal, or death, but rather the natural completion of her appointed term as an Independent Director.
In a concurrent governance move, the Board appointed Ms. Pranali Desale as the Nodal Officer for the purpose of verification of claims and coordination with the Investor Education and Protection Fund Authority. Ms. Desale, who holds the position of Company Secretary and Compliance Officer at Aurum PropTech, will perform these additional responsibilities from the company's registered office located at Aurum Q1, Aurum Q Parc, Thane Belapur Road, Navi Mumbai, Maharashtra. Contact details for investor queries have been designated as phone number +91 22 6911 1800 and email address [email protected].
The Board further approved the appointment of M/s. Varma & Varma, Chartered Accountants, as the Internal Auditor of the Company for the financial year 2026–27, pursuant to the applicable provisions of the Companies Act, 2013. The firm, established in 1935, operates a network of nine offices across five states and maintains a team of over 600 professionals, including 35 partners. The firm has demonstrated expertise in internal audit, risk-based audit, process audit, compliance review, and internal financial control services. M/s. Varma & Varma is empanelled with regulatory authorities including the Comptroller and Auditor General of India, Reserve Bank of India, Securities and Exchange Board of India, and the Serious Fraud Investigation Office for specified assignments.
Impact on Investors
The departure of Dr. Padma Deosthali from the Independent Director position effective July 22, 2026, represents a change in the company's board composition. Investors will note that the cessation is due to completion of tenure rather than any adverse circumstance, and the disclosure of this change is made in accordance with Regulation 30 of the Listing Obligations and Disclosure Requirements Regulations, 2015. The company has not disclosed details regarding the appointment of a replacement Independent Director in this announcement; shareholders may await further communications regarding board reconstitution if applicable.
The appointment of a Nodal Officer under the Investor Education and Protection Fund framework is a compliance-driven governance action with no direct impact on the company's operational or financial position. The engagement of M/s. Varma & Varma as Internal Auditor for FY 2026–27 strengthens the company's internal control and audit oversight architecture. The firm's extensive experience across diverse sectors, regulatory empanelment, and professional credentials indicate that the Board has selected an established and well-credentialled audit partner. Investors should note that the company will schedule and announce its Annual General Meeting for the financial year ended March 31, 2026, in due course.
Sector / Market Context
India's real estate and property technology sector has experienced increased regulatory focus on governance, internal controls, and compliance frameworks over recent years. The appointment of an established internal audit firm forms part of a broader industry trend toward strong risk management and financial control infrastructure, particularly among listed entities. The Securities and Exchange Board of India has strengthened disclosure requirements and governance norms for listed companies to enhance investor protection and market transparency. The specific appointment of a Nodal Officer for the Investor Education and Protection Fund Authority reflects government initiatives to ensure proper handling of unclaimed funds and shareholder communication. These governance actions, while routine in nature, underscore the company's adherence to regulatory standards and best practice frameworks within India's capital markets ecosystem.