AIA Engineering Limited has informed the Exchange regarding Appointment of Mr. Malay Jayendra Dalal as Non- Executive Independent Director of the company w.e.f. April 20, 2026.
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AIA Engineering Limited announced key board changes effective April 20, 2026. Mr. Rajendra Shantilal Shah resigned as Non-Executive Non-Independent Director and Chairman, citing his extensive involvement in philanthropic activities, after serving on the board since July 2007 (nearly 19 years). Mr. Malay Jayendra Dalal, a Fellow Chartered Accountant with over 35 years of experience in audit, tax and advisory roles, has been appointed as an Additional Non-Executive Independent Director for a 5-year term. The Managing Director, Mr. Bhadresh Kantilal Shah, has been appointed as the new Chairman with effect from April 21, 2026. The company confirmed that Mr. Dalal meets independence criteria under the Companies Act and SEBI regulations, and the board composition remains compliant with all requirements.
The transition appears orderly with no governance red flags, as the resigning director cited personal philanthropic reasons and confirmed no material issues. The existing Managing Director taking over as Chairman provides continuity, while the addition of an experienced chartered accountant as independent director strengthens the board's financial and audit expertise.