Maha Rashtra Apex Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP
MAHAPEXLTD · price
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On the reaction day the stock moved 4.7 pts less than Nifty Microcap 250 and 4.8 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Maha Rashtra Apex Corporation Limited underwent a major leadership overhaul on May 26, 2026. The Managing Director, Mr. Aspi Nariman Katagara, resigned due to age and health reasons. Two Independent Directors, Ms. Vidya More and Mr. Nagarajan Sivarama Krishnan, also resigned citing preoccupation and health issues respectively. In response, the Board appointed Mr. Cyrus Khambata as Managing Director and Mr. Jamsheed Minoo Panday as Executive Director, both subject to shareholder approval. Mr. Jamsheed Panday simultaneously resigned as Company Secretary and Compliance Officer, replaced by Mr. Arvind Ganesh Mallya. Mr. Kudi Bhoja Shetty was redesignated from Non-Executive Director to Independent Director. No director holds any shares in the company.
The resignation of the Managing Director and two Independent Directors in a single board meeting signals significant boardroom disruption. Investors should monitor the new appointments and any impact on governance standards, especially given the concentration of changes.