Mr. Yogesh Dawda, Wholetime Director of the Company has tendered hios resignation vide letter dated 21.04.2026.
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Mr. Yogesh Dawda has resigned as Chairman, Wholetime Director & CEO of Neelkanth Ltd effective April 21, 2026, citing personal commitments and pre-occupation. Simultaneously, Mr. Bhavik Bhimjyani, a Promoter of the Company and MBA graduate from Wharton School, has been appointed as Additional Director in the capacity of Chairman & Managing Director for a 5-year term. The company is also amending its Articles of Association to allow the same individual to hold both Chairperson and Managing Director/CEO positions. A postal ballot is being conducted to seek shareholder approval for the AOA amendment and the appointment of Mr. Bhimjyani as CMD.
The resignation of the long-serving CEO Yogesh Dawda marks a significant leadership change. The appointment of promoter Bhavik Bhimjyani suggests continuity of promoter control. Investors should monitor the postal ballot outcome and any impact on company strategy given the AOA amendment allowing combined chairperson-MD roles.