Outcome of Board meeting held on 06.01.2026
Awaiting price reaction for this filing.
On January 6, 2026, the board of JTL Defence Ltd (formerly RCI Industries & Technologies Ltd, Scrip Code: 537254) approved a sweeping leadership change. Two directors stepped down with immediate effect — Mr. Madan Mohan (Whole-time Director) and Mr. Rakesh Garg (Non-Executive Director & Chairperson), both citing personal reasons. Company Secretary & Compliance Officer Ms. Sarika Kaur (a Key Managerial Personnel) also resigned. To fill the gaps, the board appointed Mr. Dhruv Singla (cousin of Managing Director Mr. Pranav Singla) as Executive Director and Chairperson for 5 years, three new Independent Directors (Dr. Venkatagowri Sankara Jayaram Pyla, Mr. Satinder Singh, and Mrs. Neerja Chathley) for 3-year terms, Mr. Naveen Kumar Laroiya as the new CFO, and Mr. Ankit Singla as the new Company Secretary. All four board committees (Audit, Nomination & Remuneration, Stakeholders Relationship, and CSR) were reconstituted, with the new independent directors chairing them.
The appointment of the MD's cousin as Chairperson is a notable governance signal for minority shareholders, even as the company strengthens independent oversight with three new independent directors chairing key board committees. Investors should watch for any related-party transactions or shifts in strategic direction under the new leadership.