Arvind SmartSpaces Limited has informed the Exchange regarding Appointment of Mr Prashant Das as Non- Executive Independent Director of the company w.e.f. November 03, 2025.
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Arvind SmartSpaces announced sweeping leadership changes effective November 3, 2025. Sanjay S. Lalbhai stepped down as Chairman and Non-Executive Director as part of succession planning, and Kulin S. Lalbhai (his son, previously Vice-Chairman) was elevated to Chairman. Two new directors were appointed: Prashant Das (PhD, IIM Ahmedabad professor) as Independent Director for a 5-year term till November 2030, and Punit S. Lalbhai (another son of Sanjay Lalbhai) as Non-Executive Director. Additionally, Amit Chamaria, a Chartered Accountant with prior CFO roles at HyFun AgriLink and Innoterra, was appointed as the new Chief Financial Officer and KMP.
These changes consolidate Lalbhai family control at the board level, with Kulin and Punit Lalbhai now both serving as directors. The exit of the founder Chairman is part of planned succession, which investors typically view neutrally. The appointment of a new external CFO with diverse industry experience and a reputed academic as Independent Director should strengthen governance and financial oversight.