Six directors exit as NCLT resolution plan takes effect at Shri Ram Switchgears

Six directors resigned effective October 21, 2026, after the NCLT Indore approved the company's Resolution Plan on May 8, 2026. The exits include Managing Director Nilesh Kumar Jhalani, Whole-time Directors Devraj Jhalani and Rohit Kumar Jhalani, Director Sapna Jhalani, and Independent Directors Atul Khandelwal and Mudit Gupta. Separately, the company disclosed that CFO Naresh Kumar Jhalani passed away on July 19, 2025 during the CIRP period, with the disclosure delayed due to insolvency process. The old promoter family-led management is being replaced under the resolution plan.