Mr. Yogesh Dawda, Chairman of the Company has tendered his resignation vide his letter dated 21.04.2026.
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Neelkanth Limited's Chairman, Wholetime Director & CEO Mr. Yogesh Dawda resigned effective April 21, 2026, citing personal commitments and pre-occupation. Simultaneously, the Board appointed Mr. Bhavik Bhimjyani as Additional Director and Chairman & Managing Director for a 5-year term. Mr. Bhimjyani is the Promoter of the Company, an MBA from Wharton School with prior investment banking experience at Lazard Freres and Merrill Lynch. The company also amended its Articles of Association to allow the same person to hold both Chairperson and Managing Director/CEO roles, enabling the new structure. A postal ballot has been initiated for shareholder approval of these appointments and AOA amendments.
The simultaneous resignation of the CEO and appointment of a promoter family member marks a significant leadership transition. The AOA amendment allowing combined chairperson-MD/CEO roles may raise governance concerns for some investors. The company will need to demonstrate stable operations under the new leadership.