Grand Foundry Limited has informed the Exchange regarding Resignation of Mr. Rahul Sharma as Independent Director of the company w.e.f. January 05, 2026.
Awaiting price reaction for this filing.
Grand Foundry Limited announced a sweeping board overhaul effective January 5, 2026. Six people resigned in a single board meeting — Executive Director & CEO Ashish Kumar, Executive Director & CFO Shivani Jain, three Independent Directors (Rajat Kasliwal, Rahul Bhardwaj, Rahul Sharma), and Non-Executive Director Shefali Kesarwani — all citing 'pre-occupation elsewhere' with no other material reasons stated. To fill the gaps, the company appointed Gaurav Goyal as new Managing Director for a 5-year term, along with Rakesh Kumar Bansal (Executive Director), Saurabh Goyal (Non-Executive), and three new Independent Directors (Dr. Reena Sharma, Shilpi Soni, Aishwarya Singhvi). A new CFO (Nitin Gupta) and Company Secretary (Sonia Arora) were also appointed. The registered office was simultaneously shifted from Andheri East to BKC, Mumbai.
This is a near-complete leadership churn in one sitting, with the CEO and CFO both exiting on the same day. The new Managing Director Gaurav Goyal, his brother Saurabh Goyal, and their maternal uncle Rakesh Kumar Bansal are all joining the board, indicating promoter family members are taking direct executive control. Shareholders should watch for governance implications and the long-term strategic direction under the new family-led management.