Abhishek Corporation Limited has informed the Exchange regarding Board meeting held on July 16, 2025.
Awaiting price reaction for this filing.
The Board of Directors of Mahaalaxmi Texpro Limited (formerly Abhishek Corporation Limited) met on July 16, 2025, and appointed Mr. Sachin Suresh Diwan as the new Chief Financial Officer with immediate effect, based on the recommendation of the Nomination and Remuneration Committee and Audit Committee. Mr. Diwan is a commerce graduate with a background in Direct Taxation practice and has experience in accounting and management across large group companies. The company confirmed he is not debarred from holding office by SEBI or any other authority. The Board also designated three Key Managerial Personnel – the Executive Chairman & MD (Mr. Deepak C. Choudhari), the new CFO, and the Company Secretary – as authorised persons for determining materiality of events and making stock exchange disclosures. The meeting lasted 40 minutes, from 5:00 PM to 5:40 PM.
The appointment of a new CFO is a routine governance update and is unlikely to cause any immediate stock price movement, though investors may note the leadership change at the financial helm. The simultaneous disclosure of KMP authorisation for materiality events is standard SEBI compliance and signals good governance practice.