Resignation of Managing Director
Awaiting price reaction for this filing.
At a board meeting on 8 November 2025, Deccan Bearings Limited accepted the resignation of Managing Director and CFO Priyankbhai Vasantbhai Ghelani and Independent Directors Nishith Trivedi and Sandip Pawar, all citing other professional engagements. In their place, the board appointed Paresh Satani as the new Managing Director, Tanuj Satani (his son) as Whole-time Director and CFO, and Chirag Satani (Paresh's nephew) as Whole-time Director, each for a 3-year term subject to shareholder approval. The company also proposed changing its name to Satani Bearings Limited and shifting its corporate office to Rajkot, Gujarat. Q2 FY26 results show nil revenue from operations and a loss of Rs 4.15 lakh for the quarter. An EGM is scheduled for 13 December 2025 to approve these changes.
This signals a near-complete change of control at the company, with the Satani promoter family taking over the board, management, and corporate identity. Shareholders should watch the 13 December EGM closely, as it effectively introduces a new promoter group with no disclosed financial track record at this listed entity.