DISCLOSURE UNDER REG 30 OF SEBI (LODR)2015
Awaiting price reaction for this filing.
Deccan Bearings Ltd held a board meeting on 27 May 2025 where it approved the appointment of a new Managing Director, Mr. Priyankbhai Vasantbhai Ghelani, along with four new Independent Directors — Mrs. Aakansha Vaid, Mr. Nishith Trivedi, Mr. Nitin Arvind Oza, and Mr. Ajay Gohel. The company also approved increasing its authorized share capital to Rs. 20 crore (2 crore equity shares of Rs. 10 each), up from the previous level. Additionally, shareholders' approval was sought to raise the borrowing limit under Section 180, and to make loans, investments, and provide guarantees in excess of prescribed limits under Sections 185 and 186. The new MD's profile highlights experience in manufacturing, production, and cost optimization. The new IDs bring expertise in company secretarial practice, finance, chartered accountancy, and marketing.
This is a major board overhaul with a new MD and four new independent directors, which could signal a strategic reset or compliance-driven restructuring. The increase in authorized capital and borrowing limits suggests the company is preparing for potential fundraising or expansion, which shareholders should monitor closely.