Board Rejig: 4 New Directors Appointed; 4 Directors, CFO and CEO Resign After Promoter Change
Big board overhaul on September 28, 2026.
By ScoutQuest · · 2 min read
- New Directors Appointed
- Bhupesh Kothari and Saroj Kumar Choudhury as Additional Non-Executive & Non-Independent Directors; Manas Ranjan Palo and Iranee Tripathy…
- Term of Independent Directors
- 5 consecutive years, from September 28, 2026 to September 27, 2031, subject to shareholder approval
- Directors Resigned
- Manoj Kasliwal, Sharda Kasliwal (Non-Executive); Aman Sanghvi, Neeraj Goenka (Independent); effective close of working hours on September…
- CEO and CFO Resigned
- Rajendra Kumar Mungar (CFO) and Deepti Dubey (CEO), effective close of working hours on September 28, 2026
- Reason for Changes
- Share Purchase Agreement dated 14.02.2025 with Acquirers in connection with change in Promoters
What happened
At a board meeting held on September 28, 2026 (3:00 P.M. to 4:45 P.M.), Premier Capital Services approved a wide set of board and management changes.
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 category. Engineering graduate from OUAT, Bhubaneswar, with over 24 years in e-learning and software development in India and 2 years of experience in the UK.
- Ms. Iranee Tripathy — Additional Director, Independent category. B.A. (2023); pursuing the Company Secretary course from ICSI and LL.B. from Madhusudan Law University, Cuttack.
The two Independent Directors have each been recommended for a first term of 5 consecutive years, from September 28, 2026 to September 27, 2031, subject to shareholder approval by Special Resolution at the forthcoming General Meeting. The two Non-Executive appointees hold office up to the next General Meeting, also subject to member approval.
Resignations
- Mr. Manoj Sumatikumar Kasliwal — Non-Executive Director, effective close of working hours on September 28, 2026.
- Mrs. Sharda Manoj Kasliwal — Non-Executive Director, effective close of working hours on September 28, 2026.
- Mr. Aman Sanghvi — Independent Director; resignation takes effect as per Section 168(2) of the Companies Act, 2013 and the date in his notice. He confirmed there are no other material reasons beyond those in his letter.
- Mr. Neeraj Goenka — Independent Director; same basis, with a similar confirmation.
- Mr. Rajendra Kumar Mungar — Chief Financial Officer, effective close of working hours on September 28, 2026.
- Ms. Deepti Dubey — Chief Executive Officer, effective close of working hours on September 28, 2026.
Why it is happening
Every resignation is stated to be tendered in accordance with the terms of the Share Purchase Agreement dated 14.02.2025 executed with the Acquirers, in connection with the change in the Promoters of the Company. So this is a transition of control rather than individual exits for unrelated reasons.
How investors may read it
A simultaneous change of the board, the CFO and the CEO is a significant governance event. On one hand it signals that the promoter change is moving into effect, with the incoming group taking charge of the board; on the other, the loss of the entire senior leadership at once means the company's direction now depends on the new appointees, whose confirmation rests with shareholders at the forthcoming General Meeting. The disclosure notes that none of the new appointees is related to existing directors or key managerial personnel, and none is debarred by any SEBI or other order.
Also from Premier Capital Services
Board Overhaul: 4 New Directors Appointed, 4 Directors Plus CFO and CEO Resign After Promoter Change
28 Sep 2026
Board overhaul: CEO, CFO and four directors resign; four new directors appointed after promoter change
28 Sep 2026
Board Overhaul: Four New Directors Appointed, Two Directors, Two Independent Directors, CFO and CEO Resign
28 Sep 2026
More numbers
- Independent Director first termfive (5) consecutive years
- Bhupesh Kothari experience in agro-businessover 25 years
- Saroj Kumar Choudhury professional experiencemore than 25 years
- Manas Ranjan Palo experience in e-learning/software in Indiaover 24 years
- Manas Ranjan Palo experience in UK2 years
- New directors appointed4
- Directors resigning4
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.