Revised Outcome of Board Meeting held on September 8, 2025
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Magnanimous Trade & Finance Ltd announced outcomes of its September 8, 2025 board meeting, which included a major restructuring of the board: five directors resigned (Shashank Parasrampuria, Savita Poddar, Srikath Samala, Zeeshan Ali, and Sudhir Kumar Parasrampuria) while Mr. Kurjibhai Premjibhai Rupareliya was redesignated from Additional Executive Director to Managing Director for a 5-year term. Two new Independent Directors (Mr. Nevil Kamdar and Mr. Priyanshu Alpesh Kumar Sheth) and a new Company Secretary & Compliance Officer (Mr. Jayesh Bhavsar) were appointed. New statutory auditor M/s. K P C M & Co and secretarial auditor Ms. Krina Gokulkumar Shah were appointed for 5-year terms (FY25-FY30), subject to shareholder approval. The 40th AGM was scheduled for September 30, 2025, with book closure from September 24-30, 2025, and the company's registered and corporate offices were shifted to a new address within Jaipur.
The sweeping board overhaul and new leadership appointment suggest a significant change in control or strategic direction at this NBFC. Shareholders should note that all auditor appointments and director appointments are subject to approval at the upcoming AGM on September 30, 2025, making it a key event for the company.