Intimation regarding change in management.
GALLANTT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Gallantt Ispat Ltd's board approved the resignation of two Independent Directors - Mrs. Smita Modi and Mr. Pankaj Khanna - both citing pre-occupation and personal reasons, effective May 5, 2026. Both directors confirmed no material reasons beyond those stated. To fill these vacancies, the board appointed Mr. Sanjay Kumar Jain (55, Chartered Accountant with 33+ years experience) and Mr. Kishore Pariyar (62, retired RBI Chief General Manager) as Additional Non-Executive Independent Directors for a term of two years each, subject to shareholder approval.
The simultaneous resignation of two Independent Directors raises some governance concerns, though the company has promptly appointed two qualified replacements. The replacements bring strong credentials in finance/banking and regulatory compliance, which could be positive for governance. However, the board will need shareholder approval for the new appointments.