Pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, we would like to inform you that the Board of Directors, in their meeting held on 13th August, 2025, ....
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The Board of Directors of Porwal Auto Components Ltd, at its meeting held on August 13, 2025, approved three key leadership changes. Mr. Devendra Jain (DIN: 00232920) has been re-appointed as Managing Director for a further three-year term from August 1, 2026 to July 31, 2029. Mr. Mukesh Utsavlal Jain (DIN: 00245111) has been re-appointed as Whole Time Director for the same three-year period. Additionally, Mr. Mukesh Utsavlal Jain has been appointed as Chairman of the Company with effect from close of business hours on August 13, 2025, in addition to his existing WTD role. Both directors are brothers and have long tenures with the company (Devendra since 1992, Mukesh since 1998). All re-appointments are subject to shareholder approval at the upcoming AGM.
Continuity at the top with the same promoter-family leadership continuing to run the company for another three-year term. The elevation of Mukesh Jain to Chairman (in addition to WTD) consolidates promoter family control over key board positions, which may be viewed as positive for stability but limits independent oversight at the top.