Accepted the resignation of Ms. Shreyana Satyashodhak Koyande from the post of Company Secretary and Compliance officer w.e.f April 23, 2026 (after closing of business hours)
Awaiting price reaction for this filing.
Avi Products India Ltd underwent a complete change of control and management on April 23, 2026. The board appointed a new promoter group led by PPMS Real Estates LLP through three executive directors (Mr. Parthh K Mehta as Chairman, Mr. Ameya Tandulkar, and Mr. Bankim Mehta who is Parthh's uncle) and three independent directors (Ms. Malvika Jagani, Mr. Dayashankar Patel, and Mr. Aditya Soni). All seven appointments are for 5-year terms subject to shareholder approval. Simultaneously, the outgoing CFO (Ms. Hemali Pankaj Patel) and Company Secretary (Ms. Shreyana Satyashodhak Koyande) resigned citing change of management, and were replaced by Mr. Nikunj Gandhi and Ms. Renu Choudhary respectively. Four existing directors including Daksha Vora, Abhishek Vora, Manas Palo, and Saroj Choudhury also resigned. The secretarial auditor was changed from VKMG & Associates LLP to M/s. Pooja Gala & Associates. The company also announced relocation of its registered office from Thane to Mumbai. The entire event is attributed to a change of control.
This is a significant corporate event indicating a takeover and wholesale change in management. Existing shareholders should note the new promoter group has a real estate background and the entire old board has been replaced. The stock may see volatility due to the change in controlling interest and new leadership direction.