CFO and Executive Director resigns; cessation effective 7 October 2026

Nivaka Fashions Ltd has informed the exchanges that Mr. Mitesh Ajit Thakkar (DIN: 06994888) has resigned as Chief Financial Officer and Executive Director of the Company with effect from 7 October 2026.

Wed 7 Oct 2026

Name and DIN

Mr. Mitesh Ajit Thakkar (DIN: 06994888)

Positions Resigned

Chief Financial Officer and Executive Director

Date of Cessation

07-10-2026

Leadership change in the finance function

• Nivaka Fashions Ltd has informed the stock exchanges that Mr. Mitesh Ajit Thakkar (DIN: 06994888) has resigned from the positions of Chief Financial Officer (CFO) and Executive Director of the Company.
• The resignation takes effect from 7 October 2026. The Board has accepted it, and the company has recorded the change in its disclosure as a "Cessation".
• Mr. Thakkar held both an executive board seat and the finance head role, so this is a change at the level of key managerial personnel.

Reason given in the resignation letter

• Mr. Thakkar states the reason as his "pre-occupancy of work and other evolving professional commitments, which prevent me from devoting the necessary time required to discharge my duties effectively in this role".
• He has expressed his gratitude to the Board of Directors, the management and the finance team for their support and cooperation during his tenure.

Details placed on record

• Date of the letter and of cessation: 07-10-2026.
• The disclosure table records the reason for change as Cessation, the date of cessation as 07-10-2026, and marks the fields for a brief profile and director relationships as not applicable, since this is a cessation rather than an appointment.
• The intimation is signed by Mr. Bhavin Jain, Managing Director (DIN: 00741604).

How a retail investor can read this

• A CFO and Executive Director stepping down is a management-level development, and such changes typically draw investor attention because the finance head is closely involved with the company's numbers, reporting and internal controls.
• The stated reason relates to the individual's other work commitments rather than to any disagreement, and the company has placed the resignation and its acceptance on record with the exchanges.
• For a reader tracking the company, the practical follow-up is the composition of the board and the finance function after this change.

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