Appointment of Additional director under the Category of Non executive Chairman
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
At its May 26, 2025 meeting, the board of Rajkot Investment Trust Ltd approved the audited standalone and consolidated financial results for the half year and FY ended March 31, 2025, along with an unmodified auditor's opinion. The board noted the in-principle approval received on April 30, 2025, for a proposed Rights Issue of fully paid-up equity shares. Mr. Akhilesh Kumar Choudhary, a banking and finance professional with over 35 years of experience in stressed asset management and corporate debt restructuring, was appointed as Additional Director in the Non-executive Chairman category, subject to shareholder approval. The board also accepted the resignation of Mr. Parthkumar Ketanbhai Patel from the office of Chief Compliance Officer (referred to as CFO in the filing) and noted the exit of Mr. Hemant Naginbhai Patel as Non-executive Independent Director effective the same day. Mrs. Radhika Ben Patel was appointed as the new Chief Compliance Officer, and the Audit, Nomination & Remuneration, and Stakeholders Relationship committees were reconstituted.
Multiple board-level changes in a single meeting signal meaningful governance churn. Shareholders should watch for the upcoming rights issue terms, shareholder approval for the new Chairman, and any impact on audit committee oversight given the Independent Director exit.