Outcome of the Board Meeting held today, i.e., on Wednesday, 23rd July, 2025.
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Onesource Industries and Ventures Ltd held a board meeting on July 23, 2025, where Mr. Vibhu Maurya resigned from the positions of Managing Director and CFO due to personal reasons and pre-occupations. Mr. Shibhu Maurya, brother of Mr. Vibhu Maurya and a promoter family member, was appointed as Additional Executive Director and Managing Director for a 5-year term, subject to shareholder approval. Mr. Ronik Sharma (referred to as Ronik Jain in Annexure III) was appointed as the new Chief Financial Officer. The Audit Committee was also reconstituted with Mr. Atul Chauhan as Chairman, Mr. Shibhu Maurya and Mr. Rahul Lalwani as members.
The change is a smooth internal family transition — the outgoing MD is replaced by his own brother, who is already a promoter. While continuity is maintained, it concentrates control within the promoter family and may raise governance concerns for minority shareholders. Shareholders will get to vote on the new MD's appointment at the upcoming AGM.