The Board of Directors at their meeting held on 15.01.2025 has approved the changes in the management of the Company as per the file attached herewith.
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Soma Papers & Industries (Scrip 516038) has undergone a near-complete change in management after new promoters completed an open offer and took control. Two new promoter directors — Anancha Perumal Selvi Keshav (appointed Managing Director and Chairman for 5 years) and Rohan Ramaswamy — have joined the board, along with new independent director Reshma D. All three incumbent independent directors (Mounika Pammi, Kuntala Rani Roy, Shivashankar Reddy Gopavarapu) and the Whole-time Director/CFO (Vanteddu Lakshmi Priya Darshini) have resigned, effective January 21, 2026. The Company Secretary (Komal Agarwal) has also stepped down. New KMPs appointed include Vignesh Seethapathi as CFO and R. Priyanka Malpani as Company Secretary. Resignation letters explicitly cite the completion of the open offer by new promoters as the trigger.
This is a change-of-control event rather than routine churn — existing shareholders should expect the new promoter group's strategic direction (turnaround, asset reorientation, or restructuring) to take priority. New promoter-backed management typically signals a potential business pivot, and the entire board except new appointees exits at once, raising near-term governance uncertainty until the new team is fully settled.