Intimation of Resignation of CFO
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Lake Shore Realty Limited (formerly Mahaan Foods Limited) has undergone a complete change of control after AL Maha Investment Fund PCC–ONYX Strategy and Indigo Infracon Private Limited acquired 19,19,630 equity shares (54.84%) from the existing promoter group via a Share Purchase Agreement dated May 30, 2025. Indigo Infracon has become the new promoter, while AL Maha Investment Fund is a financial investor. Consequently, six key personnel resigned including Managing Director Sanjeev Goyal, Director Saloni Goyal, three Independent Directors (Manisha Goyal, Dharmesh Bhutani, Achal Kumar Khaneja), and CFO Jitender Singh Bisht. Four new directors were appointed: Bhairavi Chandrakant Goswami as Managing Director, Chandan Hiralal Prajapati as Non-Executive Director, and Vijay Kumar and Ruchi Ghanashyam as Independent Directors. All board committees were reconstituted and the registered office was shifted within Delhi to West Punjabi Bagh.
This is a major corporate event—complete change of ownership and management. Shareholders should expect a new strategic direction under the new promoter (Indigo Infracon, backed by Bhairavi Goswami). The new Managing Director's background is in luxury brands and media rather than real estate or food, so investors should watch for clarity on the company's future business focus. The registered office relocation and full board overhaul signal a fresh start, which could bring both opportunity and uncertainty.