Revised Outcome of the Board Meeting held on Tuesday 27th May 2025 01:00 pm
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Gravity (India) Limited submitted a revised version of its May 27, 2025 board meeting outcome. The board appointed Mr. Manoj Kanhiyalal Ramavat (DIN: 11039927) as Additional Director and Managing Director & CEO for five years, citing 10 years of experience in banking and management. Ms. Ambika Jindal (DIN: 10310252) was appointed as Non-Executive Independent Director for two years, and Mr. Tushar Rai Sharma (DIN: 09211414) as Non-Executive Non-Independent Director for five years. Existing Managing Director Mr. Varun Rasiklal Thakkar was redesignated as Non-Executive Non-Independent Director and Chairman. The board also granted the Chairman irrevocable power to sell or lease the company's property at Silvassa (Survey No. 10/1, Village Khutali, Khanvel, Dadra & Nagar Haveli). All appointments are subject to shareholder approval.
This represents a major leadership overhaul at Gravity India, with a new MD & CEO taking over from the promoter Mr. Varun Thakkar, who moves into a non-executive Chairman role. Three new directors have been added to strengthen the board. The irrevocable authority granted to the Chairman to dispose of the Silvassa property gives him significant decision-making power, which shareholders should monitor closely.