Prabha Energy Limited has informed the Exchange regarding Appointment of Vishal Gautambhai Palkhiwala as Executive Director of the company w.e.f. May 13, 2025.
PRABHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Prabha Energy's board, at its May 13, 2025 meeting, approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, along with an unmodified auditor opinion from M/s Mahendra N. Shah & Co. The board re-appointed Mr. Vishal Gautambhai Palkhiwala as Executive Director for 3 years effective August 1, 2025 (subject to shareholder approval) and appointed Mr. Narayanan Sadanandan, a former SBI Capital Markets and SBI Pension Funds senior, as an Additional Independent Director for a 5-year term. M/s Manubhai & Shah LLP was re-appointed as Internal Auditor for FY26, and M/s RPSS & Co. was appointed as Secretarial Auditor for a 5-year term. The board also decided to sell 3,50,000 equity shares (70%) of Deep Natural Resources Limited, after which Deep Natural Resources will cease to be a subsidiary. The board also adopted an amended Code of Fair Disclosure for UPSI.
The divestment of 70% in Deep Natural Resources will simplify the company's group structure and likely bring in cash, but also removes a subsidiary from consolidation. Director appointments bring seasoned banking and finance expertise to the board, which is a neutral-to-positive governance signal for shareholders.