-Intimation for Re-Appointment of Managing Director of the Company - Regularization of Additional Director as Executive Non-Independent Director of the Company
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ATVO Enterprises Ltd announced that shareholders at the 30th AGM held on September 29, 2025 approved the re-appointment of Mr. Naresh Kumar Gattani as Chairman and Managing Director for a further 3-year term, effective March 29, 2026 to March 28, 2029. Naresh Kumar Gattani, aged 58, is a Commerce graduate with over 29 years of management experience in textiles, real estate, and hospitality. Additionally, Mr. Siddharth Gattani (30, BBA in Finance) and Mr. Shorya Gattani (with 5+ years experience in ethanol manufacturing and real estate) were regularized as Executive Directors, having initially been appointed as Additional Executive Directors on August 30, 2025. Both are sons of the Chairman and MD and belong to the promoter group.
This is a continuation of existing promoter family leadership with no change in management control, though it brings the next generation (the promoter's two sons) formally onto the board as Executive Directors. For shareholders, this signals family succession and continuity rather than external professionalization of the board, which may be viewed as neutral to mildly negative from a corporate governance standpoint.