Outcome Of Board Meeting Held On Tuesday 27th May 2025 at 13.00 P.M
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Gravity (India) Limited held a board meeting on 27th May 2025 where several key leadership changes were approved. Mr. Manoj Kanhiyalal Ramavat was appointed as Additional Director and designated as the new Managing Director & CEO. Mr. Varun Rasiklal Thakkar, who was previously the Managing Director, has been redesignated as Non-Executive Non-Independent Director and Chairman. The board also appointed Ms. Ambika Jindal as Non-Executive Non-Independent Director and Mr. Tushar Rai Sharma as Non-Executive Independent Director. Additionally, the board granted irrevocable power to the Chairman to sell or lease a property located in Silvassa.
A complete top management reshuffle with a new MD/CEO taking charge while the outgoing MD moves to a non-executive Chairman role, which may signal a strategic shift in leadership. The authorisation to sell/lease the Silvassa property indicates the company is likely looking to monetise or restructure that asset, which shareholders should monitor for the resulting financial impact.