Board meeting of the Company held on Monday, 19th January, 2026 to consider the followings business: 1. Appointment of Mr. Naresh Chand as Managing Director; 2. Resignation of Mr. Puneet ....
Awaiting price reaction for this filing.
Ashiana Ispat's board, at its meeting on January 19, 2026, approved the re-appointment of Mr. Naresh Chand (age 81) as Managing Director, subject to shareholder approval via special resolution. Mr. Chand had earlier served as MD and has been associated with the company since 1996. Simultaneously, Mr. Puneet Jain resigned as Managing Director effective the close of business on January 19, 2026. The board also appointed Mr. Vicky Jain as an Additional Director in a Non-independent, Non-Executive capacity, bringing 25+ years of global BPO and operations experience to support the company's pan-India and global expansion plans. Importantly, the disclosure notes that Mr. Naresh Chand is the father of Mr. Puneet Jain, indicating family-level board involvement.
The leadership transition back to a senior, experienced promoter-family member at age 81 may raise governance questions for shareholders, but the company frames it as a strategic move for stability and global expansion. Investors should watch for shareholder approval of the special resolution and how the new director mix supports the company's stated pan-India and international growth plans.