Mahanagar Gas Limited has informed the Exchange regarding Cessation of Shri Sandeep Kumar Gupta (DIN: 07570165) as Director and Chairman of the Company with effect from March 01, 2026, pursuant to GAIL (India) Limited nomination withdrawal letter dated February 27, 2026.
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Mahanagar Gas Limited (MGL) has informed the stock exchanges that Shri Sandeep Kumar Gupta will cease to be Director and Chairman of the company with effect from March 01, 2026. This change follows GAIL (India) Limited's nomination withdrawal letter dated February 27, 2026. GAIL, as the promoter/nominee shareholder, has simultaneously appointed Shri Deepak Gupta (DIN: 09503339) as an Additional Director in the Non-Executive Non-Independent category, designated as Chairman, from the same date, subject to shareholder approval. Deepak Gupta is a Mechanical Engineer from Delhi College of Engineering with 35 years of experience in the Oil & Gas sector, including leading large-scale refinery and petrochemical projects. The outgoing Chairman's contributions were acknowledged by the company.
This is a routine rotation of GAIL's nominee on MGL's board, with the outgoing Chairman ceasing due to nomination withdrawal rather than voluntary resignation. There is no change in promoter control or business direction expected, and the new Chairman brings strong oil & gas sector experience. Minimal direct impact on shareholders is anticipated.