CFO and Executive Director Mitesh Ajit Thakkar resigns with effect from 7 October 2026

Nivaka Fashions Ltd has informed the exchanges that Mr. Mitesh Ajit Thakkar (DIN: 06994888) has resigned as Chief Financial Officer (CFO) and Executive Director, effective 7 October 2026.

Wed 7 Oct 2026

DIN

06994888

Effective date of cessation

7 October 2026

Reason for change (disclosure table)

Cessation

Change in key managerial personnel

• Mr. Mitesh Ajit Thakkar (DIN: 06994888) has resigned as Chief Financial Officer (CFO) and Executive Director of the Company, with effect from 7 October 2026.
• The disclosure table shared along with the intimation records the reason for change as "Cessation", and the date of cessation as 07-10-2026.

The stated reason, in his own words

• In the resignation letter addressed to the Board of Directors, Mr. Thakkar writes that the reason for his resignation is his pre-occupancy of work and other evolving professional commitments, which prevent him from devoting the necessary time required to discharge his duties effectively in this role.
• He thanked the Board of Directors, the management and the finance team for their continuous support and cooperation during his tenure.

What the roles involve

• The CFO and Executive Director are key managerial personnel. The CFO is the executive associated with a company's accounts and financial reporting, and an Executive Director sits on the board while holding an executive role.
• A change in who holds these positions is therefore something investors usually take note of when they review a company's management.

Other details in the update

• The resignation letter is dated 07-10-2026 and is marked as received and accepted, and the covering intimation is signed by Mr. Bhavin Shantilal Jain, Managing Director.
• In the disclosure table, the rows for a brief profile in case of appointment and for disclosure of relationships between directors in case of appointment of a director are marked NA, since this intimation relates to a cessation and not an appointment.

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