ENCLOSED HEREWITH ANNOUNCEMENT UNDER REG 30 FOR APPOINTMENT OF MR.NANDKUMAR GORKHNATH PATIL AS AN ADDITIONAL DIRECTOR (NON EXECUTIVE INDEPENDENT DIRECTOR)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sanmit Infra Ltd's board, meeting on Feb 4, 2026, approved a Rs. 200 lakh term loan from SIDBI under the STEP Scheme at 8.85% interest for working capital at its Raigad manufacturing unit, repayable in 54 monthly installments after a 6-month moratorium, with personal guarantees from four Makhija family members. The board accepted the resignation of CEO Shlok Sanjay Makhija effective Dec 31, 2025, citing other professional engagement, and noted the end of independent director Mohan Mallu Rathod's second term on Jan 5, 2026. Mr. Nandkumar Gorkhnath Patil was appointed as a new Non-Executive Independent Director for 5 years. The board also recommended consolidating 10 equity shares of Rs. 1 each into 1 share of Rs. 10, subject to EGM approval on March 18, 2026.
Shareholders should note the CEO departure and ongoing leadership transition, with no replacement CEO named yet. The share consolidation will reduce share count by 10x but leave paid-up capital unchanged, potentially making the stock less accessible to small retail investors. The SIDBI loan signals fresh working capital support for the manufacturing unit, though personal guarantees from promoter family members indicate concentrated risk.