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) informed the stock exchanges that its Chairman, Shri Sandeep Kumar Gupta, will cease to be Director and Chairman of the company effective March 1, 2026, following the withdrawal of his nomination by GAIL (India) Limited, MGL's promoter. Simultaneously, the Board appointed Shri Deepak Gupta as Additional Director in the category of Non-Executive Non-Independent Director, designated as Chairman, effective the same date and until further orders from GAIL. Deepak Gupta is a mechanical engineer with 35 years of experience in the Oil & Gas sector, a certified Project Management Professional, and has led large-scale projects including the $19 billion Dangote Refinery in Nigeria and the HMEL Bhatinda Polymer Project. His appointment is subject to shareholder approval.
This is a routine promoter-driven board change since GAIL (India) controls the Chairman seat, so day-to-day operations and strategy remain unaffected. Shareholders should expect continuity in governance with no material impact on the stock.