Safari Industries (India) Limited has informed the Exchange about change in Management
SAFARI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.9 pts more than its Plastic Products - Consumer peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Safari Industries' Board meeting on 19th May 2026 approved multiple changes. Two Non-Executive Independent Directors, Mr. Sridhar Balakrishnan and Mr. Aseem Dhru, were re-appointed for second terms of 5 years each. Mr. Rahul Kanodia resigned as Independent Director effective 20th May 2026, citing his son's upcoming marriage to Sudhir Jatia's daughter (the Promoter-Chairman), which created a conflict with his independence. Mr. Vineet Poddar resigned as CFO effective 30th June 2026 to pursue opportunities outside the company. Mr. Abhijaat Sinha was appointed as Company Secretary, Compliance Officer, and Nodal Officer from 17th June 2026. The Nomination and Remuneration Committee was reconstituted following these changes.
The CFO and independent director resignations may create short-term uncertainty in financial oversight and board independence. The governance flag around Kanodia's resignation due to a family relationship with the promoter is a notable concern for minority shareholders.