Whole-Time Director & CEO Ceases With Immediate Effect; AGM Notice Corrigendum Issued
The Board on September 24, 2026 approved the cessation of Mr. Yashas Bhand (Whole-Time Director & CEO) with immediate effect.
By ScoutQuest · · 2 min read
- CEO Cessation
- Mr. Yashas Bhand (Whole-Time Director & CEO) ceased with immediate effect on September 24, 2026
- Reason for Cessation
- Affected by natural calamity/flood situation in Nepal during Kailash Mansarovar pilgrimage; whereabouts unresolved
- AGM Impact
- Item No. 2 of 18th AGM notice (his appointment as director) withdrawn and substituted with Mrs. Janaki Sarang Bhand
- AGM Scheduled Date
- Wednesday, September 30, 2026 at 11:30 A.M. (IST)
What happened
The Board of Organic Recycling Systems Limited met on September 24, 2026 and approved the cessation of Mr. Yashas Bhand (DIN: 07118419), Whole-Time Director and Chief Executive Officer, with immediate effect from that date.
The circumstances stated
- Mr. Yashas Bhand, also a member of the Promoter Group, had travelled to Nepal in connection with a pilgrimage to the Kailash Mansarovar region.
- He was affected by the natural calamity/flood situation in the region.
- His family, in coordination with the Ministry of External Affairs, Indian authorities in Nepal and China and local authorities, is making efforts to ascertain his whereabouts.
- As on the date of the update, the Company had not received any further update on his whereabouts or status.
Change to the AGM agenda
The 18th Annual General Meeting is scheduled for Wednesday, September 30, 2026 at 11:30 A.M. (IST) through Video Conferencing/Other Audio-Visual Means. Item No. 2 of the original notice dated September 2, 2026, which proposed the appointment of Mr. Yashas Bhand as a Director liable to retire by rotation, stands withdrawn and will not be placed before members.
In its place, members will be asked to pass an ordinary resolution appointing Mrs. Janaki Sarang Bhand (DIN: 07118415), who retires by rotation, as a Director under Section 152 of the Companies Act, 2013. Note No. 4 and Annexure A of the AGM notice are substituted accordingly. All other contents of the notice remain unchanged.
About the incoming director
- On the Board since 1st September, 2022; age 41 Years.
- Qualifications: BA Psychology (gold medalist, IEHE Bhopal), MA in Clinical Psychology (MSU Baroda), PG Diploma in Guidance and Counselling (Fergusson College, Pune); REBT practitioner certified by Albert Ellis Institute, India.
- A practising psychologist for more than 10 years, previously with Podar Education Network's Inclusive Education Cell and eClerx India; runs her own counselling and training venture.
- Attended 2(Two) Board meetings during FY 2025-2026.
- Remuneration last drawn: sitting fees of ₹30,000/-; remuneration sought: sitting fees of ₹10,000/- per Board meeting.
- Shareholding in the Company: Nil. She holds no directorship in any other listed company; other bodies corporate are Five Elements Environment Ventures Private Limited and Five Elements Research Foundation.
- She has an inter-se relationship with Mr. Sarang Bhand and Mr. Yashas Bhand.
How investors may read it
The Company loses its CEO and Whole-Time Director with immediate effect under distressing and unresolved circumstances. Mr. Sarang Bhand continues as Managing Director, and the Company has named him along with the Chief Financial Officer Mr. Jigar Gudka and Company Secretary Mr. Manoj Kumar as the Key Managerial Personnel authorised for determining materiality of events under Regulation 30(5). The proposed director is a non-executive appointment by rotation, so the executive leadership gap created by the cessation is a point investors may track in subsequent disclosures.
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More numbers
- Sitting fees last drawn by Mrs. Janaki Sarang Bhand₹30,000/-
- Sitting fees sought per Board meeting₹10,000/- per Board meeting
- Board meetings attended in FY 2025-20262(Two)
- Age of incoming director41 Years
- Experience as practising psychologistmore than 10 years
- Shareholding in the CompanyNil
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