Board clears auditor and independent director reappointments; CEO moves to CFO role, CFO resigns

Board meeting held October 06, 2026.

Tue 6 Oct 2026

Board meeting date

October 06, 2026

CEO resignation / CFO appointment

Mr. Jenik Dineshkumar Soni resigns as CEO; appointed CFO

CFO resignation

Mr. Jitendrakumar S Soni resigns as CFO; stays Joint MD

Board meeting, October 06, 2026

The Board of Directors of Ashapuri Gold Ornament Ltd met on October 06, 2026 and transacted and approved a set of items, including changes in senior management and proposals to be placed before shareholders.

Statutory auditor

• Re-appointment of M/s Shivam Soni & Co., Chartered Accountants, as statutory auditor for a second term of five years.
• The term runs from the conclusion of the 18th Annual General Meeting to be held in the year 2026 till the conclusion of the 23rd Annual General Meeting to be held in the year 2031.
• The Board approved this on the recommendation of the Audit Committee, and it is subject to the approval of the Members of the Company.

Independent Director

• Re-appointment of Shri Saurabh G Patel as a Non-Executive Independent Director for a second term of five years, with effect from 30th December 2026.
• This was proposed by the Board on the recommendation of the Nomination & Remuneration Committee, and is subject to the approval of the Shareholders at the forthcoming Annual General Meeting.

The items going to shareholders

• A proposal for increasing the remuneration of Mr. Saremal Soni, Chairman and Managing Director, Mr. Dineshkumar Soni, Managing Director, and Mr. Jitendrakumar Soni, Joint Managing Director, subject to the approval of Members at the AGM.
• A proposed related party transaction, for approval of Members at the AGM.
• A revised Draft Director Report, along with its annexures, for the year ended March 31, 2026, and a revised Notice calling the 18th AGM of the members.
• Appointment of M/s. Mukesh H. Shah & Co., Company Secretaries, Ahmedabad, as the Scrutinizer to scrutinize remote e-voting and voting at the 18th AGM.

Registered office

The registered office of the Company is being shifted to "Ashapuri Corporate House", 2/F Ravish Aprt., Near Jalaram Chass Wala, Navrangpura Bus Stand Road to Swastik Cross Road, Navrangpura, Ahmedabad, Gujarat, India - 380009.

Chief Executive Officer and Chief Financial Officer

• Mr. Jitendrakumar S Soni has resigned from the office of Chief Financial Officer with effect from October 06, 2026, due to realignment of roles and responsibilities within the senior management team. He states he will continue as Joint Managing Director.
• Mr. Jenik Dineshkumar Soni has resigned from the office of Chief Executive Officer with effect from October 06, 2026, due to organisational restructuring to align executive responsibilities with the Company's current requirements. He was CEO of the Company for 5 years.
• Mr. Jenik Dineshkumar Soni has been appointed as Chief Financial Officer of the Company with effect from October 06, 2026, to fill the vacancy in the office of Chief Financial Officer. He is the son of Mr. Dineshkumar S Soni, Managing Director of the Company, and is related to the promoter and directors.

The update's stated reasons

Both changes are described in the update as realignment of roles and responsibilities, with the individuals continuing their association with the Company. The update also lists the increase in remuneration of the Chairman and Managing Director, the Managing Director and the Joint Managing Director, and the related party transaction, as matters placed for Member approval at the AGM.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.