Chairman steps down; Bipin Agarwal continues as Managing Director
Mr. Bipin Agarwal has stepped down from the position of Chairman of Nimbus Projects with effect from November 05, 2026.
By ScoutQuest · · 2 min read
- Effective Date
- November 05, 2026
- Designation Change
- Stepped down from the position of Chairman; continues to hold the position of Managing Director
- Terms & Remuneration
- No change in the terms and conditions of his appointment and remuneration as Managing Director
What happened
Mr. Bipin Agarwal (DIN: 00001276) has communicated his decision to step down from the position of Chairman of Nimbus Projects Ltd with effect from November 05, 2026.
What stays the same
He continues to hold the position of Managing Director of the company. The update states that the change is limited to his designation as Chairman and does not involve his resignation or cessation as a Director or from his position as Managing Director and Key Managerial Personnel.
- There is no change in the terms and conditions of his appointment and remuneration as Managing Director
- The step-down is described as a change in designation, not an exit from the board or from management
Why the company says it happened
The annexure attributes the change to implementation of discretionary corporate governance requirements. Mr. Agarwal's letter to the Board says his decision is limited to the position of Chairman, that he will continue as Managing Director, and that there are no material reasons for his stepping down from the position of Chairman other than those stated in the letter.
Other details recorded
- The company has received confirmation from Mr. Agarwal on the above
- The Board meeting commenced at 03:00 p.m. (IST) and concluded at 08:00 p.m. (IST)
- Mr. Agarwal's letter expresses appreciation to the Board members and the management for their continued support and cooperation
How a reader may see it
Because the same person remains Managing Director, the announcement reads as a split of the Chairman and Managing Director roles rather than a departure of a key executive. A reader tracking governance would note that the company itself links the change to corporate governance requirements, and that the letter states no material reasons beyond that. Investors checking the leadership structure may want to follow subsequent updates for who takes up the Chairman position.
Also from Nimbus Projects
Board finalises terms to avail unsecured Rs. 60 crore loan from promoter group NBFC at 12% p.a
5 Nov 2026
Anand Kumar appointed Non-Executive Chairman of the Board
5 Nov 2026
Nimbus Projects investor presentation: FY26 revenue up 28%, Q2FY27 balance sheet and FY29 projections
5 Nov 2026
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