Isgec Heavy Engineering Limited has informed the Exchange about - Mr. Sachin Saluja, Company Secretary and Compliance Officer of the Company Ceased from the position of Compliance Officer with effect from July 08, 2025. Mr. Sachin Saluja will continue to serve the Company as Company Secretary and Key Managerial Personnel under the Companies Act, 2013.
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Isgec Heavy Engineering's board on July 8, 2025 cleared a wide set of changes. Two new Non-executive Independent Directors — Mr. Rajiv Roy Chaudhury and Mr. Vivek Dhir — were appointed for 5-year terms (till July 7, 2030), subject to shareholder approval. Mr. Kishore Chatnani (currently CFO) and Mr. Sanjay Gulati (Head-Manufacturing Units) were re-designated as Joint Managing Directors from October 1, 2025, while keeping their existing functional roles. Mr. Sachin Saluja stepped down as Compliance Officer due to internal restructuring but continues as Company Secretary; Mr. Kalyan Ghosh (Chief Legal Officer) was named the new Compliance Officer. The board also approved an initial capex of Rs. 53.50 crore for a new mechanical presses factory in Kurukshetra, Haryana, and constituted a growth strategy committee.
Positive structural signals for shareholders: stronger independent board oversight, a clear succession step with the elevation of two senior executives to JMD roles, and a fresh Rs. 53.50 crore capex to expand press manufacturing capacity. The Compliance Officer change is a routine internal reshuffle, not a governance red flag, and should have a neutral impact on the stock.