Isgec Heavy Engineering Limited has informed the Exchange regarding Appointment of Mr. Rajiv Roy Chaudhury as Non- Executive Independent Director of the company w.e.f. July 08, 2025.
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Isgec Heavy Engineering's board, at its July 8, 2025 meeting, approved several key changes. Two new Non-Executive Independent Directors — Mr. Rajiv Roy Chaudhury and Mr. Vivek Dhir — were appointed for 5-year terms, subject to shareholder approval. Two Whole-time Directors, Mr. Kishore Chatnani (who also serves as CFO) and Mr. Sanjay Gulati, were re-designated as Joint Managing Directors effective October 1, 2025, while retaining their existing functional roles. Mr. Kalyan Ghosh replaced Mr. Sachin Saluja as Compliance Officer (Saluja continues as Company Secretary). Two senior management personnel were also appointed, and a new Committee of Directors was formed to explore growth opportunities. Additionally, the board approved an initial capital investment of Rs. 53.50 crores to set up a new factory in Kurukshetra, Haryana, for manufacturing mechanical presses.
The changes indicate a broad leadership refresh and internal restructuring, with no negative governance signals. The Rs. 53.50 crore capex signals capacity expansion in the mechanical press business, which is positive for future revenue. For shareholders, the moves are largely neutral to mildly positive, reinforcing management continuity while adding independent oversight and growth-focused capital deployment.