Announcement under Regulation 30 of SEBI LODR Regulations, 2015
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MPF Systems Ltd's Board of Directors, at its meeting held on January 13, 2026, approved the appointment of Mr. Sharang Amar Sharma (DIN: 11428567) as the new Managing Director with effect from January 13, 2026. Mr. Sharma holds a postgraduate degree in Marketing and has experience in business development and sales. The appointment is subject to shareholder approval at the next general meeting. Simultaneously, Mr. Piyush Mansukhbhai Savalia (DIN: 06464445) has resigned from the position of Managing Director effective January 15, 2026, citing pre-occupation. The outgoing MD confirmed there are no other material reasons for his departure. The Board meeting ran from 5:30 p.m. to 6:00 p.m.
This is a leadership transition at MPF Systems with a smooth handover between the outgoing and incoming Managing Director. For shareholders, the key point is that Mr. Sharma's appointment still requires shareholder ratification at the next general meeting, and the change in top leadership could influence the company's strategic direction going forward.