New chairman and chief executive appointed after merger scheme

Ceo ResignedCfo ResignedCeo Appointed ExternalMultiple Ind Directors ResignedKmp ResignedManagement Changes View source PDF Explain this filing

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AI summary

After the merger scheme took effect in October 2025, Gurbans Singh became Executive Chairman and Divyesh B. Shah CEO, each for five years. Kubeir Khera left the CEO role. The chief financial officer and company secretary resigned and were replaced. Two independent directors and one non-executive director resigned. September-quarter consolidated income was Rs 256.59 crore and net profit of Rs 75.31 crore, versus a restated loss of Rs 13.39 crore.

Likely market impact

For shareholders, the merger brings new leadership, but the scale of changes warrants monitoring of execution and governance.