Cessation of Ms. Ranjana Bhargava (DIN: 00234421), Whole-Time Director & Chief Financial Officer and Ms. Rakshita Bhargava (DIN: 00234224), Non-Executive Director of the Company
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On November 14, 2025, the Board of EMA India Ltd accepted the resignations of Ms. Ranjana Bhargava (Whole-Time Director & CFO) and Ms. Rakshita Bhargava (Non-Executive Director), both citing personal and unavoidable reasons, with effect from the same day. Both directors also resigned from all board committees and trust positions. In the same board meeting, Mr. Akshay Shivaji Adhalrao (DIN: 00314926), currently Additional Executive Director and MD of Dynalog India Ltd, was appointed as Managing Director for a 3-year term, subject to shareholder approval. The outgoing directors share the same residential address in Kanpur, suggesting a promoter/family-related exit.
This is a significant board-level transition: the CFO has stepped down and the company is getting a new Managing Director from outside the existing promoter family, which could bring strategic changes but may also create short-term governance uncertainty until shareholder approval is secured.