Rajoo Engineers Limited has informed the Exchange regarding Appointment of Mr Hasmukhlal Ambavibhai Manavadaria as Non- Executive Independent Director of the company w.e.f. Jun 17, 2025.
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Rajoo Engineers announced multiple board-level changes following a meeting on June 17, 2025. Mr. Hasmukhlal A. Manavadaria, a Gujarat-based businessman with nearly 30 years of experience in agricultural machinery, was appointed as a Non-Executive Independent Director for 5 years. Mr. Rajesh N. Doshi was re-designated from Executive Director to Chairman, while Mr. Pratik R. Kothari stepped down as Chairman to remain a Non-Executive Non-Independent Director. Mr. Chintan B. Malkan, 40, who has been with the company for 17 years already, was appointed as the new Chief Financial Officer. The Board also formally noted a BSE notice flagging non-compliance with SEBI Regulation 17(1) for the quarter ended September 2024, which relates to the composition of the board.
The reshuffle and addition of a new independent director appears designed to fix the earlier board-composition non-compliance flagged by BSE, reducing governance risk. The new CFO is a long-tenured internal hand, suggesting continuity in financial management. For shareholders, this is a routine but necessary housekeeping move and is broadly governance-positive.