As per regulation 30 of sebi lodr the board of directors has approved the appointment of Mr. Mehul Hari ranade and Ms Renuka Saurabh Borole as an additional director and noted the cessation ....
Awaiting price reaction for this filing.
Jiya Eco-Products has completely reconstituted its board effective May 12, 2025, following an approved Resolution Plan (suggesting an insolvency resolution process). All five erstwhile directors — Yogeshkumar Patel, Hetalben Kakadiya, Nimish Jani, Tushar Patel, and Bhavesh Kakadiya — have ceased. In their place, the board appointed Mr. Mehul Hari Ranade (Chartered Accountant with 18+ years of experience in manufacturing/services) and Ms. Renuka Saurabh Borole (Chartered Accountant specializing in taxation, audit, and GST) as Additional Directors (Non-Executive and Independent), subject to shareholder approval for a 5-year term. Notably, both new appointees also serve on the board of Goldline Pharmaceutical Limited, indicating a likely change in control or new promoter group taking over the company.
This is a material change-of-control event: the entire old board has been replaced, and the incoming directors appear linked to a common entity, pointing to a new promoter/investor group taking over via an approved Resolution Plan. Shareholders should watch for further disclosures on the Resolution Plan terms, promoter change, and eventual shareholder approval of the new independent directors at the next general meeting.