Balu Forge Industries Limited has informed the Exchange regarding Resignation of Mr Amit Ashok Todkari as Chief Financial Officer of the company w.e.f. May 25, 2026.
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Mr. Amit Ashok Todkari resigned as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of Balu Forge Industries Limited effective May 25, 2026, citing personal reasons. The company confirmed there are no material reasons behind the resignation beyond what was stated in the resignation letter. Immediately following, the Board approved the appointment of Mr. Sandeep Singh Chadha as Interim CFO effective May 26, 2026. Sandeep Singh Chadha is described as a qualified finance professional with an MBA in Finance and over 5 years of experience in financial planning, corporate accounting, treasury management, and regulatory compliance. The company has stated it has begun evaluating both internal and external candidates for the permanent CFO position.
The resignation of the CFO creates moderate uncertainty for shareholders, though the immediate appointment of an interim CFO and ongoing search for a permanent replacement suggests the transition is being managed. The personal reasons cited with no material concerns noted is a positive signal for continuity.