Company has Informed the Stock Exchange about the following: Appointment of 1) Mr. Keval Jayanti Khudai as Additional Director (Designated as Managing Director and Chairman) 2) Mr. ....
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Jattashankar Industries announced sweeping changes to its board in a single meeting on 7 August 2025. Managing Director and Chairman Mr. Jatta Shanker Poddar, Executive Director Dr. Sharad Poddar, two Independent Directors (Ms. Richa Choudhary and Ms. Ruchika Kabra), and CFO Mr. Ankur Sharad Poddar all resigned citing personal reasons and pre-occupations. In their place, Mr. Keval Jayanti Khudai (holding 7,00,000 shares) was appointed as new MD and Chairman for 3 years, Mr. Nileshbhai Bhagvanji Bapodara (holding 7,21,933 shares) as Whole-Time Director for 3 years, and Mr. Harsh Nayak and Mr. Siddharth Gajra as Independent Directors for 5 years each. All new appointments are subject to shareholder approval at the next general meeting. Board committees (Audit, Nomination & Remuneration, Stakeholder Relationship) were reconstituted accordingly.
This represents a near-complete change of management with the exiting Poddar family members being replaced by new appointees who together hold over 14 lakh shares, suggesting a likely shift in promoter control. While this could signal a fresh strategic direction, it also brings significant short-term governance uncertainty for shareholders until the new team is formally approved and settles in.