Appointment of Rohan Agarwal as Managing Director for the Company
Awaiting price reaction for this filing.
ACE Edutrend's board met on August 28, 2025 and appointed Rohan Agarwal as Managing Director and Chief Finance Officer, replacing Monendra Srivastava who resigned from both positions. Rohan Agarwal is the son of Mr. Mohan Agarwal, indicating promoter family involvement at the top management level. The company also appointed Ramanuj Murlinarayan Darak as Additional Director and M/s Chandan Jha & Associates as Secretarial Auditor for five years. The board approved a major fivefold increase in authorised share capital from ₹10 crore to ₹50 crore and announced a ₹50 crore rights issue of 5 crore equity shares of ₹10 each. The 31st AGM is scheduled for September 30, 2025 via video conferencing, and the company flagged a new project called 'E-Shiksha'.
The shift of MD and CFO roles to the promoter family signals tighter insider control but may also raise governance questions. The planned ₹50 crore rights issue could meaningfully dilute existing shareholders and will require fresh capital commitment at the time of issuance.