change in management
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Beryl Securities Limited has informed the stock exchange about three director resignations, all effective from the close of business on 23rd April 2025. Mr. Sudhir Sethi (DIN: 00090172), the Managing Director, and Mr. Sanjay Sethi (DIN: 00090277), a Director, stepped down after the RBI approved their resignions, which they had originally submitted in October 2024. Both cited personal reasons (health, family, personal aspirations) and mentioned they had earlier transferred their shareholdings to new promoters after SEBI and RBI approvals. Separately, Mr. Abhinav Naik (DIN: 08456140), the Non-Executive Independent Director who chaired the Audit, Stakeholders Relationship, and Nomination & Remuneration committees, also resigned citing other professional commitments, with no material reasons beyond those stated. The resignations were signed by the new Managing Director, Vineet Bajpai (DIN: 08098068).
This is a significant governance transition for shareholders, with the company losing its Managing Director and a long-standing Director along with an Independent Director on the same date. The departure of the Sethi promoters, who transferred holdings to new promoters earlier, signals a change in ownership control and management. Investors should watch for any follow-up announcements regarding new board appointments and the strategic direction under the new promoters.