Maha Rashtra Apex Corporation Limited has informed the Exchange about Resignation of Director/KMP/SMP
MAHAPEXLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Maha Rashtra Apex Corporation Limited announced significant changes to its Board and KMP composition following a Board meeting on 26th May 2026. Three key resignations occurred: Mr. Aspi Nariman Katagara resigned as Managing Director due to age and health issues, while two Independent Directors (Ms. Vidya More due to preoccupation and Mr. Nagarajan Sivarama Krishnan due to age and health issues) also resigned. Additionally, Mr. Jamsheed Minoo Panday resigned as Company Secretary and Compliance Officer. To fill these gaps, the Board appointed Mr. Cyrus Khambata as Managing Director, Mr. Jamsheed Panday as Executive Director (while vacating his CS role), Mr. Arvind Ganesh Mallya as Company Secretary and Compliance Officer, and redesignated Mr. Kudi Bhoja Shetty from Non-Executive to Independent Director.
The simultaneous resignation of the Managing Director and two Independent Directors signals a major leadership transition. While replacements have been appointed, the board composition has fundamentally changed, which may raise governance concerns for investors in the near term.