Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
PAUSHAKLTD · price
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Mr. Abhijit Joshi, Whole-time Director & CEO of Paushak Limited, has resigned effective 2nd April 2025 (after close of business hours) upon superannuation, with no other material reasons cited. The Board has approved the appointment of Mr. Chintan Gosaliya, the company's current Chief Operating Officer, as Additional Director and Whole-time Director (Key Managerial Personnel) for a 5-year term, subject to shareholder approval via Special Resolution. Mr. Gosaliya brings over 20 years of chemicals industry experience, including 15 years at Tata Chemicals and 8 years at Jubilant Ingrevia, and has been with Paushak as COO since November 2023. He is not related to any existing directors or KMPs and is not debarred by SEBI from holding directorship.
The change appears orderly — a planned superannuation succession with an internal promotion from COO to Whole-time Director, which should provide continuity. Investors should watch for clarity on whether the CEO role is also being formally handed to Mr. Gosaliya and for the shareholder vote on his appointment.