Board Rejig After Change in Control: 4 Directors and CFO Resign, 5 New Directors and New CFO Appointed

Antariksh Industries has overhauled its board following a change in control.

Tue 29 Sep 2026

Share Purchase Agreement Date

June 26, 2026

Effective Resignation Date

September 29, 2026

Directors and CFO Resigning

1 Non-Executive Non-Independent Director, 3 Independent Directors, 1 CFO

New Directors and CFO Appointed

2 executive directors (Whole Time Director and Executive Director), 3 Non-Executive Independent Directors, 1 new CFO

New Leadership Term

Five years from September 29, 2026

What happened

At a board meeting on September 29, 2026 (5:00 p.m. to 5:30 p.m.), Antariksh Industries approved a set of resignations and fresh appointments to its board and key managerial personnel.

The trigger stated in the update is the transfer of shareholding of the existing Promoters and Promoter Group to Mr. Alpit Pravinchandra Gor and Riddhi Infocom Solutions LLP, under a Share Purchase Agreement dated June 26, 2026, and the consequent cessation of control of the existing promoter over the Company.

Who stepped down (effective close of business, September 29, 2026)

• Mr. Nilesh Hasmukhbhai Kothari, Non-Executive, Non-Independent Director — reason cited: change in control.
• Mr. Ankur Vasudevbhai Patel, Chief Financial Officer and KMP — reason cited: change in control.
• Mr. Hardikkumar Dhirubhai Jetani, Independent Director — cited other professional engagements.
• Mr. Jigar Nemichand Jain, Independent Director — cited other professional engagements.
• Mr. Harinarayan Ramanand Tripathi, Independent Director — cited substantial demands of other professional commitments.

Each confirmed there were no other material reasons for resigning. The outgoing independent directors held chair or member positions across the Audit Committee, the Nomination and Remuneration Committee and the Stakeholders Relationship Committee.

Who has come in

• Mr. Tushar Pramod Kudalkar — Additional Director, Whole Time Director and Whole Time KMP, for five years from September 29, 2026.
• Mr. Umesh Arvindbhai Bhadreswara — Additional Director, Executive Director and Whole Time KMP, for five years from September 29, 2026.
• Mr. Parimal Rajendrabhai Joshi — Additional Director (Non-Executive, Independent), term of five years.
• Mr. Pranab Mahendra Shah — Additional Director (Non-Executive, Independent), term of five years.
• Mr. Soumya Ranjan Kanhu Charan Pradhan — Additional Director (Non-Executive, Independent).
• Mr. Mahendra Bansidhar Sharma — appointed Chief Financial Officer and KMP.

These appointments follow the recommendation of the Nomination & Remuneration Committee and are subject to shareholder approval. The Company confirmed the independent directors meet the independence criteria and that none of the directors is debarred from holding office by SEBI or any other authority, and none is related to any other director of the Company.

What it means for investors

This is a full turnover of the board and finance leadership tied to a change in ownership. In practice, the strategy, capital allocation and operating direction of the company will now be set by the incoming group. Investors may want to watch for the completion formalities of the share transfer, the profiles of the new leadership, and the shareholder vote that must ratify the appointments. Board committees have also been re-constituted with effect from September 29, 2026.

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