Talwalkars Better Value Fitness Limited has informed the Exchange regarding Appointment of Mr Priyanshu Sheth as Non- Executive Independent Director of the company w.e.f. March 16, 2026.
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Limited has reconstituted its entire board effective March 16, 2026, following an NCLT (insolvency tribunal) order dated February 26, 2026. The new board comprises Mr. Arvind Pradhan Bhanushali as Managing Director, Mr. Kurjibhai Premjibhai Rupareliya as Executive Director, Ms. Shilpa Singh as Non-Executive Director, and Mr. Priyanshu Sheth and Mr. Jignesh Lasaniawala as Independent Directors. The previous management, including promoter-family members Mr. Madhukar Talwalkar and Mr. Girish Talwalkar, Mr. Vinayak Gawande, Independent Director Mr. Abhijeet Patil, and CFO Mr. Dinesh Srinivas Rao, have all been deemed to cease office. Additionally, Ms. Pooja Jain has been appointed as Company Secretary and Mr. Satish Kalmaste as the new CFO.
This is a sweeping governance change driven by NCLT's insolvency resolution order, effectively replacing the founding Talwalkar family management with a completely new board. Shareholders should view this as a major restructuring event signalling that the company has emerged from (or is resolving) financial distress, with new leadership now steering the business — a potentially positive turnaround signal but also a reflection of past corporate stress.