1. Mr. Nimeshkumar Gaurishankar Patel has resigned from the post of Director in the category of Non-Executive Non-Independent Director and Chairman of the Company. 2. Ms. Neha Kanwar Bhati ....
Awaiting price reaction for this filing.
KDJ Holidayscapes & Resorts Ltd held a board meeting on April 22, 2026 where multiple major decisions were taken. Chairman and Non-Executive Non-Independent Director Mr. Nimeshkumar Ganpatbhai Patel resigned citing personal and professional commitments, and was replaced as Chairman by existing director Mr. Ravikumar Gaurishankar Patel. Ms. Neha Kanwar Bhati was appointed as an Additional Independent Director. The company is changing its name to 'Avenique Limited', shifting its registered office from Mumbai to Ahmedabad, Gujarat, and undertaking a major overhaul of its business objects — moving away from hospitality/resorts into agriculture, agro-processing, renewable energy, and chemicals. A new secretarial auditor, M/s. Avni & Associates, replaces the resigning M/s. Vinay Terse & Associates for a 5-year term, and the board approved raising its borrowing and investment limits to Rs. 5,000 Crores each. The 32nd AGM is scheduled for May 21, 2026, where shareholder approval will be sought.
Shareholders are witnessing a sweeping corporate transformation: a complete change in business identity, leadership, geography, and scale of operations. The Rs. 5,000 Crore borrowing and investment limits signal ambitions far beyond the current holiday resort business, but execution risk is high given the sharp pivot and the resignation of the Chairman shortly before the AGM.