Omkar Speciality Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on May 27, 2026 regarding the appointment of Mr. Dipak Kumar Shaw (PAN: CCYPS8421F), as Chief Executive Officer (CEO) of the Company.
Awaiting price reaction for this filing.
The filing reports the appointment of Mr. Dipak Kumar Shaw as Chief Executive Officer (CEO) effective from the board meeting held on May 27, 2026. The document itself comprises auditor's limited review reports covering three consecutive quarters (Q1 June 2025, Q2 September 2025, and Q3 December 2025), all issued under the same date of May 27, 2026. The auditors from R.R. Tibrewala & Co. issued qualified conclusions noting that the company was under Corporate Insolvency Resolution Process (CIRP) during the review period, had not prepared financial results for the first three quarters of FY 2024-25, and reported losses with negative net worth. A Resolution Plan was approved by NCLT on July 31, 2025. Financial results have been prepared on a going concern basis despite the qualification.
The CEO appointment comes at a critical juncture as the company navigates post-CIRP recovery. The company has been reporting losses and has negative net worth, making the new CEO's role pivotal in executing the approved resolution plan and restoring financial stability.