Board of directors has accpeted the resignation of Ms. Hemali Pankaj Patel as CFO w.e.f April 23, 2026.
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a major leadership overhaul following a change of control and management. The board accepted resignations of CFO Ms. Hemali Pankaj Patel, Company Secretary Ms. Shreyana Satyashodhak Koyande, and four independent directors (Daksha Nilesh Vora, Abhishek Nilesh Vora, Manas Ranjan Palo, Saroj Kumar Choudhury). Simultaneously, six new directors were appointed including Mr. Parthh K Mehta as Executive Chairman, Mr. Ameya Tandulkar as Executive Director, and three independent directors. New KMPs appointed include Mr. Nikunj Gandhi as CFO and Ms. Renu Choudhary as Company Secretary. The new promoters are associated with PPMS Real Estates LLP, with Mr. Parthh K Mehta and Mr. Ameya Tandulkar as business partners. The company also plans to shift its registered office from Thane to Mumbai.
This represents a complete change of control with the entire board and key management being replaced. The incoming promoters bring real estate industry experience. Existing shareholders should note that this is a significant governance event with potential business direction changes.