Grand Foundry Limited has informed the Exchange about change in Management
Awaiting price reaction for this filing.
On 5th January 2026, Grand Foundry Limited announced sweeping changes to its board in a single meeting. Six directors resigned, including the CEO (Mr. Ashish Kumar), CFO (Ms. Shivani Jain), three Independent Directors (Mr. Rajat Kasliwal, Mr. Rahul Bhardwaj, Mr. Rahul Sharma), and one Non-Executive Director (Ms. Shefali Kesarwani), all citing pre-occupation. In their place, six new directors were appointed: Mr. Gaurav Goyal as Managing Director for 5 years, Mr. Rakesh Kumar Bansal as Executive Director, Mr. Saurabh Goyal as Non-Executive Director, and three new Independent Directors (Dr. Reena Sharma, Ms. Shilpi Soni, Ms. Aishwarya Singhvi). The company also appointed Mr. Nitin Gupta as the new CFO and Ms. Sonia Arora as Company Secretary, and shifted its registered office from Andheri East to Bandra East, Mumbai.
The exit of both the CEO and CFO on the same day, combined with three independent directors stepping down, signals significant instability at the top. The new MD and several directors are related (Gaurav Goyal and Saurabh Goyal are brothers; Rakesh Kumar Bansal is their maternal uncle), pointing to a promoter family takeover of the board which may raise governance concerns for minority shareholders. Shareholders should watch for shareholder approval outcomes and any further clarity on the company's strategic direction under the new leadership.