Announcement under Regulation 30 (LODR)-Resignation of Chairman and Managing Director
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Mrugesh Trading Limited announced that Mr. Arpit Piyushbhai Shah has resigned from both the posts of Managing Director and Chief Financial Officer with effect from 20th February 2026, citing personal reasons and inability to devote time to company affairs. The Board has accepted his resignation and confirmed there are no other material reasons behind his exit. In his place, Mr. Babubhai Bhalabhai Makwana (DIN: 11527268) has been appointed as both Managing Director and CFO effective the same date. Mr. Makwana is described as a business professional with over 15 years of experience in business management, accounting, financial reporting, and budgeting, and is not related to any existing director. The entire transition was completed at a single board meeting held on 20th February 2026.
This is a complete top-level leadership change at a small-cap company, with both the MD and CFO roles (previously held by the same person) being filled by a single new appointee. For shareholders, this concentration of MD and CFO duties in one individual without disclosed succession depth may raise governance concerns, though the company has ensured continuity by replacing both roles on the same day.