Outcome of the Meeting of the Board of Directors of Company held today i.e. Monday, 23rd March, 2026 pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) ....
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New Light Industries Ltd announced major leadership changes at a board meeting held on 23rd March 2026. Mr. Saurabh Agrawal, a seasoned professional with over two decades of experience in fintech, e-commerce, and telecom (ex-CTO and Head of Engineering), has been appointed as both Managing Director (Additional Director designated as MD, for one year) and Chief Financial Officer (CFO) of the company with effect from 23rd March 2026. Mrs. Himanshi Sharma, who held both the MD and CFO positions (appointed as MD on 11.06.2025), resigned from both roles due to prior professional commitments, ceasing office from the close of business hours on 23rd March 2026. The Board also approved re-appointment of M/s Shashank Kumar & Associates as Secretarial Auditors for FY 2025-2026, replacing the previously appointed M/s Sumit Bajaj & Associates who had resigned. Additionally, the proposed acquisition of Jonquil Global Private Limited (automobile parts sector) has been temporarily deferred pending completion of due diligence.
A complete top-management overhaul in a single day — both the MD and CFO seats are filled by one new external appointee from a tech/fintech background, replacing a director who had been in the role for less than a year. While the incoming MD/CFO brings strong technology and digital expertise, the rapid turnover at the top may raise governance concerns among shareholders. The deferred acquisition means the diversification plan into auto parts is on hold, and the secretarial auditor switch could attract scrutiny.