JDJTL Defence537254Senior KMP change

Board approves rights issue up to INR 2,460 Lakhs; CFO and CS resign, successors appointed

Resignations (effective close of business hours of October 13, 2026): Mr. Ankit Singla, Company Secretary & Compliance Officer, and Mr. Naveen Kumar Laroiya, CFO.

By ScoutQuest · Wed 14 Oct 2026, 7:14 PM IST · 3 min read

Rights Issue Size

not exceeding INR 2,460 Lakhs

Face Value per Share

₹10 each

Resignation Effective Date

close of business hours of October 13, 2026

Board of JTL Defence Ltd met on October 14, 2026, from 06:30 PM to 06:55 PM. The board approved a rights issue and took on record changes in two key managerial posts — the Chief Financial Officer and the Company Secretary & Compliance Officer.

Change in Company Secretary and CFO

• Mr. Ankit Singla (M. No. A69926) ceased to be the Company Secretary and Compliance Officer with effect from close of business hours of October 13, 2026, on resignation.
• Mr. Naveen Kumar Laroiya ceased to be the Chief Financial Officer with effect from close of business hours of October 13, 2026, on resignation.
• Both resignation letters cite personal reasons, and state that apart from that there is no material reason for the resignation.
• Ms. Devangna Jain (M. No. A49863) has been appointed as the Company Secretary and Compliance Officer with immediate effect.
• Mr. Saurabh Jain has been appointed as the Chief Financial Officer with immediate effect.

The new appointees

• Devangna Jain is a qualified Company Secretary and a member of the Institute of Company Secretaries of India (ICSI), with B.Com and M.Com degrees. Her experience includes working as a CS Trainee at Vardhman Textiles Limited, Ludhiana, and an association with R. Arora & Associates.
• Saurabh Jain is a banking and financial services professional with over 20 years of experience across business banking, retail banking, insurance and telecom sales, and has served as Cluster Head – Business Banking at HDFC Bank, Chandigarh. He holds an MBA in Marketing (Major) and Finance (Minor) from Punjab Technical University (2009), along with CAIIB and JAIIB qualifications.

Rights issue approved

• The board approved raising of funds by way of issue of fully paid-up equity shares of the company of face value of ₹10 each (the "Rights Equity Shares") for an amount not exceeding INR 2,460 Lakhs (Rupees Two Thousand Four Hundred and Sixty Lakhs only).
• The issue is by way of a rights issue to the eligible equity shareholders of the company under the public category, to achieve minimum public shareholding, as on a record date to be determined and notified subsequently, subject to receipt of applicable regulatory and statutory approvals.
• A Rights Issue Committee has been formed with Mr. Pranav Singla as Chairman and Mr. Dhruv Singla and Mr. Satinder Singh as Members, and the powers of the board concerning the rights issue have been delegated to it.
• The issue price, rights entitlement ratio, record date, timing of the issue and terms of payment will be determined by the committee and disclosed to the exchange; the procedure for applying will be specified in the letter of offer sent to eligible shareholders.

Trading window

• The trading window for dealing in securities will continue to remain closed and will open 48 hours after publication of results for the quarter and half year ended September 30, 2026.

What a retail investor may watch

• The rights issue is expressed as an amount — not exceeding INR 2,460 Lakhs — and the shares carry a face value of ₹10 each. The price at which shares will be offered and the ratio in which eligible shareholders can subscribe are to be decided.
• Eligibility is linked to holding equity shares of the company on the record date, which will be notified.
• The two exits take effect from close of business hours of October 13, 2026, and the two appointments take effect immediately, so both posts have named successors in place.

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