Stylam Industries Limited has informed the Exchange regarding Resignation of Mr. Vinod Kumar as Non- Executive Independent Director of the company w.e.f. February 13, 2026.
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Stylam Industries announced sweeping board changes on February 13, 2026, triggered by a Share Purchase Agreement signed on December 26, 2025 with Japan's Aica Kogyo Company Limited, which has effectively taken control of the company. Three directors resigned with immediate effect: Sachin Bhatla (Whole Time Director and 'Occupier'), Tirloki Nath Singla (Non-Executive Non-Independent Director), and Vinod Kumar (Non-Executive Independent Director). Two new directors were appointed, subject to shareholder approval — Nobuyoshi Sakai as Additional Nominee Director (representing Aica Kogyo) and Santosh Kumar Agrawal as Additional Independent Director, both for a five-year term. Founder Jagdish Gupta stepped down as Chairman but will continue as Managing Director, while existing Independent Director Sunil Kumar Sood was appointed the new Chairman. Aica Kogyo was also granted special acquirer rights, and six board committees including Audit, NRC, and Risk Management were reconstituted.
This formalises the change of control in favour of Japanese laminates major Aica Kogyo, which will now have direct board representation and special rights. Existing shareholders should watch for shifts in business strategy as the new owners settle in, and the stock may see re-rating based on investor views of the Japanese acquirer's long-term plans. The promoter family retains operational control through Jagdish Gupta continuing as Managing Director and Manit Gupta being appointed 'Occupier' of the factories.