Outcome and Intimation under Regulation 30 - Change in Directorate.
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Mihika Industries announced multiple board changes effective 2nd February 2026. Two new Independent Directors — Mr. Saurabh and Ms. Reema Magotra — were appointed, along with Mr. Yagnik Prajapati as a Non-Executive Director. The company's Managing Director, Mr. Bipinbhai Prajapati, additionally took on the role of Chief Financial Officer, replacing Mr. Parth Rupareliya, who resigned from both his CFO and Non-Executive Director positions due to personal reasons. Independent Director Ms. Sweta Panchal also stepped down for personal reasons. The Audit Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee were reconstituted, with Mr. Saurabh chairing all three.
For shareholders, the simultaneous exit of a director and the outgoing CFO alongside fresh appointments signals a notable leadership transition, though no material governance concerns were flagged. Having the MD double as CFO may raise a few eyebrows regarding segregation of financial oversight, but the company has reconstituted its committees with new independent members.