Resignation of Chief Financial Officer of the Company due to Change in Management Control
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Antariksh Industries Limited has undergone a change in management control, with existing promoters transferring their shareholding to Mr. Alpit Pravinchandra Gor and Riddhi Infocom Solutions LLP under a Share Purchase Agreement dated June 26, 2026. As a result, the CFO Mr. Ankur Vasudevbhai Patel, one Non-Executive Director (Mr. Nilesh Hasmukhbhai Kothari), and all three Independent Directors (Mr. Hardikkumar Dhirubhai Jetani, Mr. Jigar Nemichand Jain, and Mr. Harinarayan Ramanand Tripathi) have resigned with effect from September 29, 2026. In their place, the board has appointed two new Executive Directors (Mr. Tushar Pramod Kudalkar as Whole Time Director and Mr. Umesh Arvindbhai Bhadreswara as Executive Director) and three new Independent Directors. Mr. Mahendra Bansidhar Sharma has been appointed as the new CFO. All appointments are for a five-year term and remain subject to shareholder approval.
This represents a complete board and KMP overhaul triggered by a promoter-level ownership change. Existing shareholders should expect a strategic direction shift under the new management. The stock may see volatility as the market digests the new leadership and assesses the incoming promoters' plans for the company.