The Company has informed the Exchange regarding Appointment of Mrs Kanta Devi as Non- Executive Director of the company w.e.f. February 12, 2026.
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The board has been substantially reconstituted following the promoter Pranav Ansal vacating his positions as Chairman and Whole Time Director (effective October 31, 2025, intimated February 3, 2026). Six directors have been formally designated at a board meeting on February 11, 2026 for a two-year term: Sanjay Jain as Chairman and Independent Director (a Supreme Court advocate), Roshan Lal Kamboj and Ashok Kumar Verma as Independent Directors, Vipul Garg as Non-Executive Director, Kanta Devi as Non-Executive Woman Director (a political leader with 40+ years in public service), and Siddhartha Goenka as Whole Time Director. The company is currently under Corporate Insolvency Resolution Process (CIRP), confined to its Lucknow and Rajasthan projects per an NCLAT order dated January 7, 2026, with resolution professionals managing specific projects. All appointments are subject to shareholder approval.
This signals a near-complete leadership overhaul at a distressed, insolvency-hit real estate company. While the new board brings legal, financial, and industry expertise, the underlying CIRP status means shareholders face continued uncertainty on resolution outcomes and project timelines.