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Magnus Steel and Infra Ltd held a board meeting on March 28, 2026 and announced a significant leadership overhaul. Mr. Chinmay Pradhan, a sales and technology professional with 20 years of experience, has been appointed as the new Managing Director. Mr. Prakash Salve joins as an Additional Executive Director, and Mrs. Krutika Shah has been appointed as an Additional Non-Executive Independent Director. In a notable change, Mr. Karronn Bajaj, from the promoter Bajaj family, has been redesignated from Managing Director to Non-Executive Director. All appointments are subject to shareholder approval. None of the new directors hold shares in the company.
This marks a major governance shift – an external professional is taking over as MD while the promoter's representative steps back from an executive role. Shareholders should watch for the EGM outcome on these appointments and any further clarity on the strategic direction under new leadership.