Appointment of Mr. Zuned Lakhani as Chief Financial Officer of the company w.e.f. 25th November, 2025.
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On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 4.2 pts less than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Aten Papers & Foam Limited held a board meeting on 25th November 2025 and approved two key changes. First, M/s. Alvi & Associates (FRN: 161053W), an Ahmedabad-based Chartered Accountancy firm founded in 2024, has been appointed as the new Statutory Auditor for FY 2025-26 to fill a casual vacancy caused by the resignation of the previous auditor, subject to shareholder approval within three months. Second, Mr. Zuned Lakhani has been appointed as the Chief Financial Officer with effect from 25th November 2025. Mr. Lakhani brings over 15 years of finance experience in the paper industry and will lead the company's financial strategy. The signing director is Managing Director Mohamedarif Mohamedibrahim Lakhani.
For shareholders, the mid-term change of statutory auditor is the more notable event, as sudden auditor exits can sometimes raise governance concerns — investors should watch for further disclosures. The new CFO appointment brings an industry-experienced finance hand to the leadership team, which is a routine governance update.