Talwalkars Better Value Fitness Limited has informed the Exchange regarding Appointment of Mrs Shilpa Singh as Non- Executive Director of the company w.e.f. March 16, 2026.
Awaiting price reaction for this filing.
The company has undergone a complete board overhaul driven by an NCLT Mumbai order dated February 26, 2026, as part of its insolvency resolution process. Five new directors have been confirmed: Arvind Pradhan Bhanushali as Managing Director, Kurjibhai Premjibhai Rupareliya as Executive Director, Shilpa Singh as Non-Executive Director, and Priyanshu Sheth and Jignesh Lasaniawala as Independent Directors, all effective March 16, 2026. Simultaneously, five existing Directors and KMPs have deemed cessation of office, including the Talwalkar promoter family members Girish Talwalkar (MD) and Madhukar Talwalkar (Whole-Time Director), another WTD, an Independent Director, and the CFO. Additionally, Ms. Pooja Jain was appointed as Company Secretary and Mr. Satish Kalmaste as the new CFO, with board committees also reconstituted.
This marks a pivotal transition for the company as it emerges from insolvency proceedings with a completely reconstituted board and management team, replacing the founding Talwalkar family leadership. Shareholders should expect a fresh strategic direction under new promoters/resolution applicants, with the new professional board bringing varied expertise in finance, marketing, and taxation. The stock may see re-rating as the resolution plan nears implementation.