Three directors resign, Bajaj family member elevated to MD at Magnus Steel
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Three directors of Magnus Steel and Infra resigned on July 8, 2026, effective immediately. Managing Director Chinmay Pradhan, Additional Executive Director Prakash Salve, and Independent Director Aarti Singh all stepped down citing personal commitments. Karronn Bajaj, son of Director Naresh Bajaj and brother of Executive Director Aditya Bajaj, was elevated from Director to Managing Director, subject to shareholder approval. Board committees were also reconstituted. No material reasons were disclosed.
Major board reshuffle as MD exits and promoter family member Karronn Bajaj takes over as new MD, pending shareholder approval. May raise governance concerns.