Appointment of Directors and KMP w.e.f 11.06.2025
Awaiting price reaction for this filing.
Euro Multivision Ltd has appointed a new board of directors and a CFO effective June 11, 2025, following the takeover of the company by a Successful Bidder/Acquirer. The acquirer purchased the company as a going concern under liquidation proceedings under the Insolvency and Bankruptcy Code (IBC), 2016, with the sale certificate dated April 18, 2025. Girish Jain joins as Managing Director for 3 years, Chandra Prakash Ranka as Non-Executive Director, Nitin Khemnani and Meenal Kabra as Independent Directors for 5 years each, and Bhabesh Jain as CFO. The company was signed off by CA Jigar Shah, the Liquidator. The handover process is still ongoing and further disclosures are expected.
For existing shareholders, this marks the end of the old promoter era as control has shifted to a new acquirer under IBC liquidation — existing equity typically gets significantly diluted or wiped out in such sales. The new management brings experience in manufacturing, steel, and finance, which could signal a strategic pivot, but the stock may remain volatile until the new owner's business plan is disclosed.