Board appoints Satish Kalmaste as MD and CFO; Ketan Gosai resigns as MD and CFO

Board meeting held on 8th October 2026.

Thu 8 Oct 2026

Board Meeting Date

8th October 2026

MD Appointment Tenure

five consecutive years, from 8th October 2026 to 7th October 2031

Outgoing MD and CFO Resignation

resigned as Managing Director and CFO ... with effect from 8th October 2026, effective from close of business hours on that date

The company held a Board meeting on Thursday, 8th October 2026 and approved changes to its top management, along with a reconstitution of Board committees.

Appointments at the top

• Mr. Satish Sahadev Kalmaste [DIN: 10937141] has been appointed as Managing Director of the company with effect from 8th October 2026, for a period of five consecutive years, from 8th October 2026 to 7th October 2031.
• The appointment is based on the recommendation of the Nomination and Remuneration Committee and is subject to the approval of regulatory/statutory authorities and of the shareholders of the company at the General Meeting.
• The same person has also been appointed as Chief Financial Officer (CFO) of the company with effect from 8th October 2026.

The exit

• Mr. Ketanbhai Shivabhai Gosai [DIN: 11543634] has resigned from the post of Managing Director and Chief Financial Officer (CFO) of the company with effect from 8th October 2026, effective from close of business hours on that date.
• The stated reason is pre-occupation with other professional commitments. He has confirmed that there is no material reason for his resignation other than those mentioned in his resignation letter.

What the update says about the incoming Managing Director and CFO

• He holds a Bachelor of Commerce (B. Com) degree from Mumbai University and has over 11 years of experience in Accounts, Finance, and Income Tax.
• He holds NIL shares in the company.
• He is not related to any Director or KMP and Promoters of the company.
• He is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.
• He holds directorships in three unlisted entities: ZINGAT STUDIOS PRIVATE LIMITED, NEOTT MEDIA PRIVATE LIMITED and HITZ MUSIC LIMITED. He does not hold directorship in any listed entity.

Other board business

• The Board of Directors has approved the reconstitution of various committees of the Board of Directors.

How to read this

Both the Managing Director and the CFO positions change hands on the same date, and the incoming person takes both roles. A change at the top is something investors usually track, since the MD and CFO are closely involved in strategy and financial reporting. Here the company has filled both positions with effect from the same date, and the outgoing MD and CFO stated a personal reason, confirming no other material reason. The MD appointment is still subject to approval of the shareholders at a General Meeting and of regulatory/statutory authorities.

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