Intimation for Appointment of Independent Director.
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Awaiting price reaction for this filing.
Suyog Gurbaxani Funicular Ropeways Ltd has appointed Mr. B. Padmanabhan (DIN: 01987724) as an Additional Independent (Non-Executive) Director on its board, effective January 13, 2026, for a 5-year term until January 12, 2031, subject to shareholder approval. Mr. Padmanabhan is a fellow Chartered Accountant with over 40 years of experience in finance, M&A, legal, secretarial, IT, and corporate governance. He previously served as Group CFO of India's second-largest auto component group (around $1.6 billion in revenue) until December 2017 and has handled M&A transactions up to $100 million and PE deals up to $50 million. He is not related to any existing directors and is not debarred by SEBI or convicted of any corporate offences.
This is a routine board strengthening move. The new independent director brings strong financial and governance expertise, which is generally a positive signal for minority shareholders, but the small-cap nature of the company means the market impact on the stock price is likely to be minimal.