Ex-Defence Secretary Giridhar Aramane appointed Additional Non-Executive Director; one director resigns

Mr. Giridhar Aramane (retired 1988-batch IAS officer, former Defence Secretary of India 2022–2024) appointed Additional Director (Non-Executive), subject to shareholder approval.

Thu 24 Sep 2026

New Non-Executive Director Appointment

Mr. Giridhar Aramane appointed Additional Director (Non-Executive), subject to shareholder approval

Director Profile

Retired 1988-batch IAS officer, former Defence Secretary of India 2022–2024, over 30 years experience in defence, infrastructure, finance…

New Advisory Board Member

Air Vice Marshal Rajesh Bhandari VSM appointed as Advisor/Member of Advisory Board, advisory role only with no voting rights

Director Resignation

Mr. Milan Bhupendra Shah resigned as Non-Executive Director effective September 24, 2026, citing pre-occupation

Board Meeting Date

September 24, 2026

What was decided

The Board of Aerpace Industries Limited met on September 24, 2026 (03:30 p.m. to 04:00 p.m.) and took three management-related decisions.

• Mr. Giridhar Aramane appointed as an Additional Director in the Non-Executive Director category with effect from September 24, 2026, subject to approval of shareholders.
• Air Vice Marshal Rajesh Bhandari VSM (Veteran) appointed as an Advisor to the Board / Member of the Advisory Board with effect from September 24, 2026.
• Resignation of Mr. Milan Bhupendra Shah, Non-Executive Director, noted with effect from close of business hours on September 24, 2026.

Profile of the new director

Mr. Aramane is a retired 1988-batch IAS officer who served as Defence Secretary of India (2022–2024) and as Secretary, Ministry of Road Transport & Highways. He holds a B.Tech. in Civil Engineering, an M.Tech. from IIT Madras and an M.A. in Economics, with over 30 years of experience in defence, infrastructure, finance and public administration, and currently serves on the boards of various organisations. He is not related to any director of the company, is not debarred from holding office of director, and holds no shares in the company.

Profile of the advisor

Air Vice Marshal Rajesh Bhandari is a retired Indian Air Force officer who served at Air Headquarters and was appointed Assistant Chief of Air Staff in September 2023. Commissioned in the IAF in 1990, he rose to the rank of Air Vice Marshal and was awarded the Vishisht Seva Medal (VSM).

Importantly, the advisory role is limited. He will not be a Director or Key Managerial Personnel, will not participate in Board decision-making and will have no voting rights. His role is to provide independent advice, guidance and recommendations. The engagement continues until the Board decides to discontinue it, is subject to periodic review, and can be ended by mutual understanding. He holds no shares in the company.

The resignation

Mr. Milan Bhupendra Shah resigned from the office of Director citing pre-occupation in other activities. In his letter he confirmed this is the sole reason and that there are no other material reasons for his resignation. He held no directorships in other listed entities.

How investors may read it

The addition of a former Defence Secretary to the Board and a retired Air Vice Marshal to the Advisory Board points to the company strengthening senior expertise relevant to defence and aerospace. Against that, a non-executive director has stepped down for stated personal pre-occupation reasons. Aramane's appointment as Additional Director still requires shareholder confirmation.

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