Attached
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a complete change of control and management on April 23, 2026. The new promoter group, PPMS Real Estates LLP (represented by Parthh K Mehta and Ameya Tandulkar as business partners), has taken over the company. Three new executive/non-independent directors were appointed including Mr. Parthh K Mehta as Chairman, Mr. Ameya Tandulkar, and Mr. Bankim Mehta (uncle of Parthh Mehta). Three new independent directors were also appointed. Simultaneously, the entire previous board of 4 directors resigned along with the CFO and Company Secretary, all citing change of control as the reason. New KMPs (CFO and Company Secretary) and new auditors (Internal and Secretarial) were appointed. The company also plans to shift its registered office from Thane to Mumbai.
This represents a complete takeover of the company by a new promoter group with real estate background. The mass resignation of all previous directors and key management indicates a clean sweep. Shareholders should note that the new board has strong real estate expertise but includes family connections (Parthh Mehta and Bankim Mehta are related), which may warrant monitoring for related party transactions.