Indiabulls Enterprises Limited has informed the Exchange regarding Resignation of Mr Vijay Kumar Agrawal as Whole-Time Director & Key Managerial Personnel designated as Executive Director, from the Board of the Company, with effect from July 25, 2025, due to personal reasons.
Awaiting price reaction for this filing.
Indiabulls Enterprises' board accepted the resignation of Mr. Vijay Kumar Agrawal as Whole-Time Director and Key Managerial Personnel (Executive Director), effective July 25, 2025, citing personal reasons. In his place, the board recommended appointing Mr. Riyaz Javed Khan (DIN: 09643848), a long-time Indiabulls Group employee with 20 years of infrastructure experience, as Whole-Time Director for 5 years, subject to shareholder approval. The board also approved Q1 FY26 financial results showing a consolidated net loss of Rs. 5.73 crores on revenue of Rs. 13.16 crores, and a standalone net loss of Rs. 3.08 crores on revenue of Rs. 10.68 crores. The company also appointed M/s. Sukesh & Co. as Secretarial Auditor for three years (FY 2025-26 to FY 2027-28). The NCLT-driven scheme of amalgamation involving Dhani Services and Yaari Digital is still under hearing, with the next date set for August 7, 2025.
The change is a like-for-like internal transition with no apparent governance red flags, likely to have minimal stock impact. However, the company continues to report losses across all segments, and the pending NCLT amalgamation remains the key catalyst to watch for shareholders.