Appointment of Executive Director of the company

Talwalkars Better Value Fitness has undergone a sweeping board change following an NCLT order dated February 26, 2026, passed under the Insolvency and Bankruptcy Code in a CIRP matter. The board has confirmed 5 new directors, including a new Managing Director, Mr. Arvind Pradhan Bhanushali (from a digital and movie marketing background, 26+ years experience), along with a new Executive Director, a Non-Executive Director, and 2 new Independent Directors. At the same time, 5 existing directors and KMPs have had deemed cessation of office, including promoter-family MD Girish Madhukar Talwalkar, WTD Madhukar Vishnu Talwalkar, another WTD Vinayak Gawande, Independent Director Abhijeet Patil, and CFO Dinesh Srinivas Rao. The board has also appointed Mr. Satish Kalmaste as the new CFO and Ms. Pooja Jain as Company Secretary and Compliance Officer, and has reconstituted all board committees.