Ircon International Limited has informed the Exchange regarding Cessation of Mr N.C. Karmali as Director (Works) of the company w.e.f. May 15, 2025.
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Ircon International Limited has announced a planned change in the position of Director (Works) effective May 15, 2025. Shri Ajit Kumar Mishra, currently Executive Director at Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL), has been appointed as the new Director (Works) for a period of five years, as per a Ministry of Railways order. Mr. Mishra brings over 25 years of experience in project management, contract management, and dispute resolution, including work on a USD 12 billion World Bank/JICA funded infrastructure project. He is a FIDIC Certified Adjudicator and holds multiple advanced degrees in engineering, law, and business. Shri N.C. Karmali, who was holding the additional charge of Director (Works), has relinquished the charge following the appointment of the new regular Director. The new appointee is not debarred from holding directorship under any SEBI order.
This is a routine, planned leadership transition rather than a sudden or controversial exit. The incoming Director brings specialised expertise in contract management and dispute resolution, which is well-suited for an infrastructure company like IRCON. Shareholders are unlikely to see a negative impact on the stock from this change.