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Maruti Interior Products Ltd's board, at its meeting on 27th February 2026, approved two changes. First, Mrs. Parul Paresh Lunagaria, currently an Executive Director, was redesignated as a Non-Executive Director; her executive salary and benefits stop, and she will receive only sitting fees going forward. She is the spouse of the Managing Director Mr. Paresh Purushotam Lunagaria. Second, Mr. Nipun Mahendrabhai Doshi, an existing Independent Director, was appointed as the new Chairperson of the Board, with the company describing this as internal restructuring of leadership roles. The new Chairperson is a Non-Executive Independent Director, continuing in his current independent director tenure with no change in status.
The appointment of an Independent Director as Chairperson is a positive governance step that strengthens board independence and checks on the promoter-led management. The redesignation of the promoter-family member from Executive to Non-Executive Director reduces family executive control at the operating level, though the Lunagaria family retains representation on the board.