Appointment of two Executive Directors and an Independent Director.
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Awaiting price reaction for this filing.
Sita Enterprises announced a major change of control at its board meeting on 1st September 2025. Promoters transferred a total of 20,00,000 equity shares (100% promoter holding) to Mr. Jitendra Rasiklal Sanghvi under a Share Purchase Agreement dated 24 December 2024. Following the change of control, the outgoing CFO Mr. Vasantkumar Shantilal Vora and Company Secretary Ms. Shweta Mehta resigned with immediate effect. The board appointed Mr. Harsh Jitendra Gandhi (a Chartered Accountant) as Additional Executive Director and also as the new CFO. Mr. Kirit Gordhandas Thakker (a former banker with 23+ years of experience) was appointed as another Additional Executive Director. Ms. Anushree Rakesh Singh was appointed as a Non-Executive Independent Director, and Ms. Monika Jain as the new Company Secretary & Compliance Officer. Another board meeting is scheduled for 4th September 2025 to formalize the transfer of control and convene the next AGM.
This is a significant change-of-control event with a complete turnover of top management and KMPs. Shareholders should note that the new management team is taking charge, and the next board meeting on 4th September may trigger further disclosures or strategic changes that could affect the stock.