SML Isuzu Limited has informed the Exchange regarding Appointment of MR. Pushkar Patwardhan as Chief Financial Officer of the company w.e.f. October 01, 2025.
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SML Isuzu's board, at its 2nd August 2025 meeting, approved several leadership changes. Mr. Vinod Kumar Sahay was appointed Executive Chairman from 3rd August 2025, replacing Mr. Chandra Shekhar Verma, who continues as a Non-Executive Independent Director. Existing CFO Mr. Rakesh Bhalla's term is being cut short to 30th September 2025 (from 31st May 2026), after which he will serve as Advisor to the Executive Director & CEO. Mr. Pushkar Patwardhan (a Chartered Accountant with 21 years' experience, most recently with the Mahindra Group) will take over as CFO from 1st October 2025, and Mr. Ritesh Agrawal (IIT Kharagpur, FMS Delhi alumni, 20+ years at Mahindra) joins as COO from 2nd August 2025. Statutory auditor Walker Chandiok & Co LLP resigned on 1st August 2025, citing that a related party of the firm was providing non-audit services to M&M (the new holding company), which compromised independence. B S R & Co. LLP has been appointed as the new statutory auditor, subject to shareholder approval, for a 5-year term.
Multiple senior leadership changes signal a post-acquisition restructuring by new parent Mahindra & Mahindra, with key finance and operations roles being filled by Mahindra Group insiders. The auditor change is procedural but reflects independence rules triggered by the change in holding — a routine but worth-noting governance event for shareholders.