1. Resignation of Mrs. Charul Gattani (DIN- 09796702) as Executive Director of the Company 2. Appointment of Mr. Siddharth Gattani (DIN: 07418858) as Additional Executive Director of the ....
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ATVO Enterprises Ltd announced board changes effective August 30, 2025. Mrs. Charul Gattani resigned as Executive Director citing pre-occupation with other activities, confirming no material reasons; she holds 25,04,536 shares in the company. The board appointed Mr. Siddharth Gattani (aged 30, BBA Finance) and Mr. Shorya Gattani (BBA Honours, 5+ years in ethanol and real estate) as Additional Executive Directors. Both new appointees are sons of Mr. Naresh Kumar Gattani, the Chairman and Managing Director, and belong to the promoter group. Their appointments are subject to shareholder approval at the next AGM. The changes represent a significant promoter-family consolidation on the board.
Shareholders should note this is effectively a family board reshuffle — one family member steps down while two sons of the CMD take on Executive Director roles, potentially raising governance concerns about board independence. The appointments need shareholder ratification at the upcoming AGM.