Change in Management after the completion of Open Offer

Classic Filaments Ltd has announced a wholesale change in its board and management following the successful completion of an Open Offer by a group of acquirers — Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal. Five members of the previous board have resigned with effect from March 22, 2026, including the Managing Director (Jayanti Gaudani), the CFO & Director (Bharat Patel), a promoter director (Amit Patel), and two independent directors (Bhavesh Dholiya and Arunaben Kachchhi). In their place, six new members have been appointed with effect from March 21, 2026, including Mr. Vikkas Bansal as the new Chairman and Managing Director, Mr. Tarun Jain as Executive Director, three new independent directors (Maneesh Gupta, Sushil Aggrawal, Sathi Kundu), and Ms. Priyanka as the new CFO. The resignations are explicitly linked to the change in control of the company arising from the open offer, with the new management bringing in a completely different team.