Rajoo Engineers Limited has informed the Exchange about Change in Management
RAJOOENG · price
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Rajoo Engineers' Board met on June 17, 2025 and approved several management changes. Mr. Hasmukhlal Ambavibhai Manavadaria, a Gujarat-based businessman with nearly three decades of experience in agricultural machinery, was appointed as an Additional Independent Director (Non-Executive) for 5 years. Mr. Rajesh Nanalal Doshi was re-designated as the new Chairman of the Board, while Mr. Pratik R. Kothari stepped down as Chairman and continues as a Non-Executive Non-Independent Director. Mr. Chintan B. Malkan, a 40-year-old finance veteran who has been with the company for 17 years, was appointed as the new Chief Financial Officer. The Board also noted BSE's earlier observations about non-compliance with Regulation 17(1) of SEBI Listing Regulations for the quarter ended September 2024, which relates to board composition requirements.
The new Independent Director likely addresses the earlier board composition non-compliance flagged by BSE, which is a positive governance step. The CFO appointment is an internal elevation of a long-tenured employee, suggesting continuity in financial management. The Chairman change is a routine leadership reshuffle with no apparent negative implications for shareholders.