Resignation of Director
Awaiting price reaction for this filing.
On November 8, 2025, the board of Deccan Bearings Limited approved sweeping changes. Managing Director and CFO Priyankbhai Ghelani resigned from both roles citing other professional engagements, effective the same day. Two independent directors, Nishith Trivedi and Sandip Pawar, also stepped down. In their place, the Satani family is taking control: Paresh Satani (first-generation entrepreneur from Satani Industries, 40+ years in bearings) joins as Managing Director, his son Tanuj Satani becomes Whole-time Director and CFO, and his nephew Chirag Satani joins as Whole-time Director, all for 3-year terms subject to EGM approval. The company also plans to rename itself 'Satani Bearings Limited', shift its registered office within Mumbai, and open a new corporate office in Metoda, Rajkot, Gujarat. Q2 FY26 (ended Sept 30, 2025) results show zero revenue from operations and a loss of Rs. 4.15 lakhs, with EPS of Rs. (0.19). An EGM is scheduled for December 13, 2025.
This is effectively a change of control event with the Satani promoter family replacing the existing management and independent directors. Minority shareholders should watch the December 13 EGM closely, as it will decide the name change and approval of new directors. The lack of operating revenue raises questions about the company's business direction going forward.