Disclosure under Regulation 30 of SEBI (Listing Obligation Disclosure Requirements) Regulations, 2015 - Resignation of Managing Director
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pet Plastics Ltd (now renamed Bharatam Ventures Limited) has informed the stock exchange that its Executive Managing Director, Mr. Ritesh Vijay Vakil (DIN: 00153325), has resigned from the Board with effect from close of business hours on March 28, 2026. In his resignation letter, Mr. Vakil stated that the reason for stepping down is a change in control of the company, with no other material reasons cited. He was also designated as a Whole Time Key Managerial Personnel. The Board took note of the resignation at its meeting held on the same day, which ran from 1:00 PM to 8:00 PM. The filing is signed by Abhinath Shinde, who remains as Managing Director (DIN: 07076684).
The MD's exit is explicitly linked to a change in control, signalling a possible takeover or ownership shift that retail investors should monitor closely, as it could lead to changes in business strategy, management direction, and potentially the company's future focus. Existing shareholders may want to watch for further announcements about new promoters or strategic plans.