Gallantt Ispat Limited has informed the Exchange about Resignation of Director/KMP/SMP
GALLANTT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Two Independent Directors of Gallantt Ispat Limited have resigned effective May 5, 2026. Smita Modi and Pankaj Khanna both cited personal reasons including heavy work pressure, pre-occupation, and lack of time as the cause for their resignation. Both directors confirmed there are no material reasons behind their departure. The company simultaneously announced the appointment of two new Independent Directors: Sanjay Kumar Jain (a Chartered and Cost Accountant with 33+ years of experience in corporate governance, finance, and taxation) and Kishore Pariyar (a retired Reserve Bank of India officer who served as Chief General Manager and Regional Director). The resignations and appointments appear balanced, with the board composition maintained.
The simultaneous resignation of two independent directors could raise minor concerns about board stability, though the prompt appointment of two qualified replacements suggests a smooth transition. Shareholders may view the new appointments positively given the strong credentials of the incoming directors, particularly the former RBI official.