This is to inform you that the Board members have received an intimation from Mr. Surinder Paul Kanwar, Chairman and Managing Director of the Company vide his e-mail dated April 16, 2026 ....
BHARATGEAR · price
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Bharat Gears has informed stock exchanges that its Chairman and Managing Director, Mr. Surinder Paul Kanwar, has had his passport revoked by the Regional Passport Office. Mr. Kanwar has filed an appeal on April 15, 2026, before the Central Passport Office seeking a stay on the revocation and to have the order quashed. He has also written separately to the Ministry of Home Affairs and Ministry of External Affairs on March 30, 2026, seeking clarification on his citizenship status, for which a reply is still awaited. The Board had previously concluded, based on a legal opinion in January 2026, that his citizenship status remains unchanged until the Central Government issues any direction. Mr. Kanwar continues to discharge his duties as CMD and has assured the Board he will keep them informed of further developments.
This is a material governance and legal overhang on the company. Investors should monitor the outcome of the appeal and any Central Government ruling on citizenship, as an adverse outcome could lead to Mr. Kanwar's disqualification from the board, creating leadership uncertainty at the top. The stock may see volatility and negative sentiment until the matter is resolved.