The Board of Director at its meeting held today, 17.06.2025 has approved the changes in management of the Company.
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Sungold Capital Ltd's Board, at its meeting on June 17, 2025, approved several management changes. Mr. Rajiv Kotia (DIN: 00135912) was re-appointed as Chairman & Managing Director for a 5-year term from July 1, 2025 to June 30, 2030, subject to shareholder approval at the upcoming AGM, and his remuneration was fixed for 3 years. Mr. Subodh Kumar Singh (DIN: 11147999) was appointed as an Additional Non-Executive Independent Director for a 5-year term, bringing over 32 years of experience in corporate affairs, legal, and regulatory matters. The Board also accepted the resignation of Mr. Avinash Nolkha (DIN: 08463871), a Non-Executive Independent Director, citing preoccupancy. Following these changes, the Audit, Stakeholders Relationship, and Nomination & Remuneration Committees were reconstituted effective June 17, 2025.
The re-appointment of the existing MD ensures leadership continuity, while the addition of a new Independent Director strengthens the board with regulatory and legal expertise. The departure of an Independent Director due to preoccupancy is routine and unlikely to materially affect operations. Net impact on the stock is expected to be neutral.