Intimation pursuant to Regulation 30 of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding Resignation of Independent Director, Director and Chief Financial ....
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GSB Finance Ltd has informed the stock exchange about three senior-level resignations, all effective from the close of business hours on December 2, 2025. Ms. Usha Yogesh Patel stepped down as Independent Director, Mr. Ramakant Sagarmal Biyani resigned as Managing Director, and Mr. Suyash Ramakant Biyani resigned as Director and Chief Financial Officer. All three cited a 'proposed Management Change of the Company' as the sole reason for their exit and confirmed there are no other material reasons. Notably, the two Biyanis (who appear related) and the Independent Director all quit on the same day, while Vivek Kumar Singhal signs the intimation as Managing Director, pointing to a likely change of control at the company.
This is a significant shake-up at the top — the MD and CFO have both exited together with an Independent Director on a single day due to a 'proposed management change.' Shareholders should watch for further disclosures on who the incoming management/promoters are, as such leadership churn often signals change of control and can materially affect the stock.