Board overhaul: CEO, CFO and four directors resign; four new directors appointed after promoter change
Premier Capital's board was reconstituted on September 28, 2026.
By ScoutQuest · · 2 min read
- CEO Resignation
- Ms. Deepti Dubey resigned effective closure of working hours on September 28, 2026
- CFO Resignation
- Mr. Rajendra Kumar Mungar resigned effective closure of working hours on September 28, 2026
- Board Reconstitution Date
- September 28, 2026
- New Non-Executive Directors Appointed
- Mr. Bhupesh Kothari and Mr. Saroj Kumar Choudhury
- New Independent Directors Appointed
- Mr. Manas Ranjan Palo and Ms. Iranee Tripathy for 5-year terms subject to shareholder approval
What happened
The Board met on September 28, 2026 (03:00 P.M. to 04:45 P.M.) and took on record a wholesale change in the company's board and key managerial personnel, tied to the change in the Promoters of the company under the Share Purchase Agreement dated 14.02.2025 executed with the Acquirers.
Exits
- Ms. Deepti Dubey, Chief Executive Officer — effective closure of working hours on September 28, 2026.
- Mr. Rajendra Kumar Mungar, Chief Financial Officer — effective closure of working hours on September 28, 2026.
- Mr. Manoj Sumatikumar Kasliwal, Non-Executive Director — effective closure of working hours on September 28, 2026.
- Mrs. Sharda Manoj Kasliwal, Non-Executive Director — effective closure of working hours on September 28, 2026.
- Mr. Aman Sanghvi, Independent Director — to take effect per Section 168(2) of the Companies Act, 2013 and the date in his resignation notice.
- Mr. Neeraj Goenka, Independent Director — to take effect per Section 168(2) and the date in his resignation notice.
Both Independent Directors confirmed there are no other material reasons for resignation beyond those in their resignation letters dated September 28, 2026. The Board recorded appreciation for each person's contribution.
Appointments (all effective September 28, 2026)
- Mr. Bhupesh Kothari — Additional Director, Non-Executive & Non-Independent. Commerce graduate with over 25 years of experience in the agro-business sector; also a Director of Hargo Enterprises Limited.
- Mr. Saroj Kumar Choudhury — Additional Director, Non-Executive & Non-Independent. MBA with more than 25 years of professional experience.
- Mr. Manas Ranjan Palo — Additional Director, Independent. Engineering graduate from OUAT, Bhubaneswar, with over 24 years of experience in e-learning and software development in India and 2 years in the UK.
- Ms. Iranee Tripathy — Additional Director, Independent. B.A. (2023), currently pursuing the Company Secretary course from ICSI and LL.B. from Madhusudan Law University, Cuttack.
Each appointment was made on the recommendation of the Nomination and Remuneration Committee. All four hold office up to the next General Meeting. The two Independent Directors have been recommended for a first term of 5 consecutive years from September 28, 2026 to September 27, 2031, subject to a Special Resolution by members. None of the appointees is related to other directors or KMP, and none is debarred by SEBI or any other authority.
How to read it
This is the management transition that normally follows a promoter change completed through a share purchase agreement. Both the CEO and CFO seats and several board seats have turned over on a single day, so investors will watch for the appointment of new key managerial personnel and how the incoming board shapes strategy. The Independent Director appointments still need shareholder approval at the forthcoming General Meeting.
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More numbers
- Kothari experience in agro-businessover 25 years
- Choudhury professional experiencemore than 25 years
- Palo experience in e-learning/software in Indiaover 24 years
- Palo experience in UK2 years
- Independent Director first termfive (5) consecutive years
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