attached
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a complete board and management overhaul following a change of control. The new promoter group, PPMS Real Estates LLP (represented by Mr. Parthh K Mehta and Mr. Ameya Tandulkar as business partners), has taken charge. Six new directors were appointed including three executive directors and three independent directors. Simultaneously, four independent directors (Daksha Nilesh Vora, Abhishek Nilesh Vora, Manas Ranjan Palo, Saroj Kumar Choudhury) and two KMPs (CFO Ms. Hemali Pankaj Patel and Company Secretary Ms. Shreyana Satyashodhak Koyande) resigned, all citing change of control and management as the reason. New CFO Mr. Nikunj Gandhi and Company Secretary Ms. Renu Choudhary were appointed. The secretarial auditor was also changed from VKMG & Associates LLP to M/s. Pooja Gala & Associate. The company also plans to shift its registered office from Thane to Mumbai.
This is a significant governance event indicating a complete change of control and management. The entire board has been reconstituted with new promoters from the real estate sector. Shareholders should note that all resignations were attributed to change of control, suggesting a wholesale replacement of the previous management team.