Intimation of change of Management for reappointment of Directors.
Awaiting price reaction for this filing.
Burnpur Cement has informed the stock exchanges about the re-appointment of three directors after UV Asset Reconstruction Company (ARC) took over management of the company under the SARFAESI Act. Mr. Ritesh Aggarwal, a Director and Chartered Accountant with 22 years of experience in stressed asset resolution, has been re-appointed from September 5, 2025 and is liable to retire by rotation. Mr. Rajesh Sharma, an Independent Director and ICAI Central Council member, has been re-appointed for a second 5-year term starting September 29, 2025. Mrs. Poonam Srivastava, an Independent Director and legal professional, has also been re-appointed for a second 5-year term from the same date. None of the three directors have any disclosed relationship with other board members.
This is a continuity announcement rather than a new change — the directors who were originally placed on the board by the ARC after the debt takeover are being retained. For shareholders, it signals stabilisation of board composition under ARC-led management, though the underlying reason (SARFAESI action by lenders) indicates the company remains under financial stress.