Appointment of Mr. Om Prakash Lohia as Chief Financial Officer (CFO) of the Company with effect from June 1, 2026 under Regulation 30 of SEBI( Listing Obligations and Disclosure Requirements) ....
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Shashank Traders announced a sweeping change in management at its May 30, 2026 board meeting. Chairman and Managing Director Mr. Praveen Jaswant Rai Jain resigned along with CFO Mr. Nipun Praveen Jain and Company Secretary Ms. Renu Lahoti, all citing personal reasons. The company appointed Mr. Om Prakash Lohia as new CFO, Ms. Biswashree Pati as Company Secretary, Mr. Pranay Kumar Shah as Independent Director, and Mr. Pranay Ganeriwala as Chief Experience Officer, effective June 1, 2026. It also proposed changing the company's name and set up a new corporate office in Kolkata. The FY26 audited results were also disclosed: zero revenue from operations, total income of just Rs. 4.19 lakhs (other income), and a net loss of Rs. 25.39 lakhs versus Rs. 13.49 lakhs in FY25. The auditor gave an unmodified opinion but flagged serious concerns: no business revenue for a long time, both bank accounts inoperative, and all business transactions routed through the MD's personal loan account.
This is effectively a change of control event. The simultaneous exit of the MD, CFO, and Company Secretary — combined with zero revenue, recurring losses, inoperative bank accounts, and business being routed through the outgoing MD's personal account — signals deep operational distress. Shareholders should expect a potential business revival attempt by the new team, but also significant execution and governance risk in the near term.