Manoj Vaibhav Gems N Jewellers Limited has informed the Exchange regarding Change in Auditors of the company.
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On August 11, 2025, the board of Manoj Vaibhav Gems N Jewellers approved three key changes. First, P.S. Rao & Associates, a Hyderabad-based firm of Company Secretaries, was appointed as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30), subject to shareholder approval. Second, Mr. Rakhal Gontla resigned as Chief Operating Officer and was immediately elevated to Additional Director (Executive) and Joint Managing Director for 5 years. Mr. Gontla is the son-in-law of the company's Chairperson & Managing Director and the spouse of the Whole-time Director & CFO, making this a promoter family member's promotion to the top management. Third, Mrs. Jonnada Vaghira Kumari, a Company Secretary with over 10 years of listed-company compliance experience, was appointed as an Independent Director for 2 years.
The promotion of a promoter family member to Joint Managing Director strengthens family control over the business, which investors may view positively for continuity but should monitor for governance independence. The appointment of an experienced Independent Director adds board oversight. These are largely internal governance moves with limited direct impact on stock price, though promoter-driven succession planning is a key watchpoint.