Grand Foundry Limited has informed the Exchange regarding Appointment of Company Secretary Ms. Sonia Arora w.e.f. January 05, 2026.
Awaiting price reaction for this filing.
Grand Foundry Limited announced a sweeping board overhaul effective January 5, 2026. The CEO (Ashish Kumar), CFO (Shivani Jain), three independent directors (Rajat Kasliwal, Rahul Bhardwaj, Rahul Sharma), and a non-executive director (Shefali Kesarwani) all resigned citing pre-occupation. In their place, Gaurav Goyal was appointed as Managing Director for a 5-year term, his brother Saurabh Goyal joined as a non-executive non-independent director, and their maternal uncle Rakesh Kumar Bansal was appointed as an executive non-independent director. Three new independent directors (Reena Sharma, Shilpi Soni, Aishwarya Singhvi), a new CFO (Nitin Gupta), and a new Company Secretary (Sonia Arora) were also appointed. The company also shifted its registered office to Bandra East, Mumbai, and moved its books of accounts to New Delhi.
This is a significant governance event for shareholders. The exit of the CEO, CFO, and all three independent directors on the same day, replaced largely by family members (two Goyal brothers and their maternal uncle) as executive/non-independent directors, raises concerns about a possible change in control or promoter family consolidation on the board. The new MD and family appointments are subject to shareholder approval, which will be a key event to watch.