Board approved Interim Compliance Officer and Manager after CEO and CS posts fell vacant
Board noted with sorrow the demise of Late Shri D J Bagchi, Chief Executive Officer and Company Secretary, on 3 September 2026; both offices stand vacant.
By ScoutQuest · · 2 min read
- Demise of CEO & CS
- 3 September 2026
- Interim Compliance Officer effective date
- 16 October 2026
- Manager (KMP) term
- 3 years from 16 October 2026, up to 15 October 2029
What the Board noted
The Board noted with deep sorrow the sad demise of Late Shri D J Bagchi, Chief Executive Officer and Company Secretary and a Key Managerial Person of the Company, on 3 September 2026. The Board placed on record its sincere appreciation of his contribution. Consequently, the offices of the Chief Executive Officer and the Company Secretary/Compliance Officer stand vacant with effect from 3 September 2026.
The two approvals
The Board approved two things at its meeting held on 16 October 2026, which commenced at 11:40 a.m. and concluded at 12:35 p.m.:
- Interim Compliance Officer: Shri Vivek Kapoor, Chief Financial Officer, was appointed Interim Compliance Officer with effect from 16 October 2026. He will hold office until a new Company Secretary is identified and appointed by the Board.
- Manager: The Board approved his appointment as Manager of the Company, a Key Managerial Person under Section 203(1) of the Companies Act, 2013, for a term of 3 years with effect from 16 October 2026, that is up to 15 October 2029. The appointment is subject to the approval of the shareholders at the ensuing Annual General Meeting.
About the appointee
Shri Vivek Kapoor is 57 years old and holds a Bachelor's degree in Commerce from Calcutta University. He has experience of over 34 years in managing accounts, finance and administration. As Corporate Manager-Finance & Corporate Affairs of the Company, he has managed the Finance and Accounts department for a period exceeding 20 years, and also looks after the regulatory compliance function as per NHB rules and regulations. He is not related to any director or Key Managerial Person of the Company, and the annexure carries a confirmation that he is not debarred by any SEBI or other authority order.
What the Board noted
- The appointee satisfies the conditions of Section 196(3) of the Companies Act, 2013 and Part I of Schedule V and is not disqualified under the Act.
- The remuneration is within the limits prescribed under Sections 197 and 198 read with Schedule V.
- The vacancy in the office of CEO/Manager is being filled within the three-month period prescribed under Regulation 26A of the SEBI LODR Regulations.
- The appointment follows the recommendation of the Nomination and Remuneration Committee, and the remuneration is as per the terms set out in the appointment letter.
What this means for a reader
The update is a change in key managerial personnel update: a senior existing executive of the Company has been given the compliance officer role on an interim basis and the Manager role for a fixed term, and the regular Company Secretary appointment is to follow. The Manager appointment is subject to shareholders' approval at the coming Annual General Meeting, and the Interim Compliance Officer role lasts only until a new Company Secretary is in place.
More numbers
- Term of appointment as Manager3 years
- Age of appointee, Shri Vivek Kapoor57 years
- Appointee's experience in accounts, finance and administrationover 34 years
- Period managed Finance and Accounts departmentexceeding 20 years
- Period prescribed under Regulation 26A for filling vacancythree-month
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