Baazar Style Retail Names Shreyans Surana Chairman

KOLKATA — On September 2, 2026, Baazar Style Retail Limited announced significant leadership and legal updates following an adjourned meeting of its Board of Directors in West Bengal. The fashion and lifestyle retailer officially designated its Managing Director, Shreyans Surana, as the Chairman of the company, effective immediately. Alongside the executive re-designation, the board approved the appointment of veteran banking professional Harish Chander Khurana as an independent director, reconstituted its Nomination and Remuneration Committee (NRC), and initiated steps to withdraw pending civil suits against Cupid Limited to pursue an amicable commercial resolution.

Board Restructuring and Leadership Changes

Under the new governance structure, Shreyans Surana will continue his duties as Managing Director while taking on the additional responsibilities of Chairman. Concurrently, Rohit Kedia, who previously served as Chairman and Whole-Time Director, transitioned to holding the office of Whole-Time Director.

To strengthen corporate oversight, the board approved the appointment of Harish Chander Khurana as an Additional Director in the category of Non-Executive Independent Director for a consecutive five-year term, subject to shareholder approval. Khurana brings over 35 years of banking experience, having retired from Bank of India in September 2022 after holding leadership roles in asset recovery, corporate relationship management, and risk governance. Additionally, the board reconstituted its NRC, adding Dr. Dhanpat Ram Agarwal as a member alongside existing independent directors Saurabh Mittal and Rishabh Narendra Jain.

Resolution of Legal Proceedings with Cupid Limited

In a strategic shift regarding corporate disputes, Baazar Style Retail announced the withdrawal of active civil proceedings initiated against Cupid Limited and others before the Civil Judge (Senior Division) at Alipore Court. The company had previously instituted regular suits—including T.S. 1015 of 2026 involving a commercial claim of Rs. 28.18 crore and T.S. 1020 of 2026 regarding injunctive relief against defamatory allegations. According to regulatory filings, the company is engaging constructively with Cupid Limited toward an amicable resolution of all outstanding matters to protect the commercial interests of all stakeholders.

Impact on Business Operations and Market Position

For investors and market observers, the leadership consolidation under Shreyans Surana provides clear executive direction as the retail chain scales its operations. The inclusion of a seasoned banking expert like Harish Chander Khurana reinforces audit, risk, and compliance standards. Furthermore, moving away from protracted courtroom litigation in favor of out-of-court settlement discussions with Cupid Limited eliminates potential legal overhangs and allows management to redirect resources toward retail expansion and operational efficiency.

Official Sources Section

• Baazar Style Retail Limited Stock Exchange Disclosure: Official regulatory filings submitted to BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, executed by Chief Compliance Officer and Company Secretary Abinash Singh on September 2, 2026.

• Corporate Governance Annexures: Detailed disclosures concerning director profiles, committee reconstitutions, and litigation withdrawals outlined in Annexures A, B, and C of the board meeting outcome.

Quote Section

"Organizers stated that the board of directors of the company at its adjourned meeting held today, has approved the reconstitution of the Nomination and Remuneration Committee with effect from September 2, 2026."

Why It Matters

Designating Shreyans Surana as Chairman unifies top-level leadership at Baazar Style Retail, streamlining decision-making. Simultaneously, resolving legal disputes and onboarding independent banking expertise reinforce corporate governance standards.

Key Facts at a Glance

• Company Name: Baazar Style Retail Limited

• New Chairman & MD: Shreyans Surana

• New Independent Director: Harish Chander Khurana

• Legal Action Update: Withdrawal of civil suits (T.S. 1015 and T.S. 1020 of 2026) against Cupid Limited for an amicable settlement

• Effective Date: September 2, 2026

Frequently Asked Questions

What new role has been assigned to Shreyans Surana at Baazar Style Retail? Shreyans Surana, who serves as Managing Director, has been additionally designated as the Chairman of the company effective September 2, 2026.

Who has been appointed to the board as an independent director? Former Bank of India executive Harish Chander Khurana has been appointed as a Non-Executive Independent Director for a five-year term.

What is happening to the lawsuits filed against Cupid Limited? The company is withdrawing its civil suits (T.S. 1015 and T.S. 1020 of 2026) pending before the Alipore Court to pursue an amicable commercial resolution with Cupid Limited.

Who previously served as Chairman of Baazar Style Retail? Rohit Kedia previously served as Chairman and Whole-Time Director and will continue to serve the company as a Whole-Time Director.

Under which regulatory guidelines were these corporate updates disclosed? The disclosures were made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Source: Baazar Style Retail Limited BSE/NSE Regulatory Filings via BSE India