Appointment of CFO.
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Sita Enterprises has reshuffled its entire top management effective September 1, 2025, following a change of control linked to a Share Purchase Agreement dated December 24, 2024. Promoter shareholdings totalling 21,00,000 equity shares have been transferred to Mr. Jitendra Rasiklal Sanghvi. The previous CFO Mr. Vasantkumar Shantilal Vora and Company Secretary Ms. Shweta Mehta have resigned, explicitly citing the change in management. In their place, Mr. Harsh Jitendra Gandhi (a young Chartered Accountant) has been appointed as both Executive Director and CFO, while Mr. Kirit Gordhandas Thakker (a former senior banker with 23+ years of experience) joins as Executive Director. Ms. Anushree Rakesh Singh has been appointed as Non-Executive Independent Director, and Ms. Monika Jain as the new Company Secretary & Compliance Officer. Another board meeting is scheduled for September 4, 2025, to consider further matters related to the transfer of control.
This is a significant change-of-control event with a near-complete board and KMP overhaul, signalling a new strategic direction under incoming promoter Mr. Jitendra Rasiklal Sanghvi. Shareholders should watch the September 4 board meeting for further clarity on the new management's plans, as such transitions often precede shifts in business strategy or capital structure decisions.