Shareholders Approve Board Changes at 43rd AGM, Two Whole-time Directors Elevated to Joint MDs
Re-appointment of Mr. Nimish Shah, who retired by rotation.
By ScoutQuest · · 1 min read
- AGM Date
- September 24, 2026
- Meeting
- 43rd Annual General Meeting
- Director Re-appointment
- Mr. Nimish Shah re-appointed (retired by rotation)
- Designation Changes
- Mr. Parth Chhajer and Mr. Bhavik Chhajer elevated from Whole-time Director to Joint Managing Director
- Director Regularization
- Dr. Raghuveer Singh Rajpurohit regularized as non-executive Independent Director
What was approved
The company informed the exchanges that its shareholders, at the 43rd Annual General Meeting held on Thursday, September 24, 2026, approved four board-related items.
- Re-appointment of Mr. Nimish Shah, who retired by rotation and offered himself for re-appointment.
- Change in designation of Mr. Parth Chhajer from Whole-time Director to Joint Managing Director.
- Change in designation of Mr. Bhavik Chhajer from Whole-time Director to Joint Managing Director.
- Regularization of the appointment of Dr. Raghuveer Singh Rajpurohit as non-executive Independent Director.
What it means
Retirement by rotation is a routine company-law requirement where a portion of directors step down each year and may be re-appointed by shareholders. Regularization means a director earlier appointed by the board now has formal shareholder approval to continue.
Two executives already on the board move up to Joint Managing Director, indicating a broader sharing of executive responsibility at the top. The company stated the directors are not debarred from holding office by any order of SEBI or any other such authority.
Brief profiles of these directors form part of the AGM Notice and the Annual Report shared with the stock exchanges and available on the company's website.
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