Regarding Affirmation given by Mr. Rishabh K Desai, we hereby confirm that Mr. Rishabh K Desai is not debarred from holding the office of director by virtue of any order of the Securities ....
Awaiting price reaction for this filing.
APAR Industries Limited has announced the elevation of Mr. Rishabh Kushal Desai (DIN: 08444660) from Non-Independent Non-Executive Director to Whole-Time Director, effective September 1, 2025, for a period of 5 years. The appointment is subject to shareholder and regulatory approvals. Mr. Rishabh Desai is the son of Mr. Kushal N. Desai (Chairman and Managing Director) and nephew of Mr. Chaitanya N. Desai (Managing Director), making this a promoter-family appointment. He currently serves as Executive Director of Petroleum Specialties FZE (PSF), a subsidiary in Sharjah, where he led revenue growth from $5 million in FY2018-19 to over $126 million in FY2024-25. The filing also includes a regulatory affirmation confirming he is not debarred by SEBI or any other authority from holding a directorial position.
This elevation strengthens the promoter family's involvement in day-to-day operations and signals succession planning within the Desai family at APAR Industries. For shareholders, this means greater continuity in leadership but also increased concentration of decision-making within the founding family.