Change in Designation of Mr. Chirag (DIN: 10728185) as an Additional Director to the position of Chairmanship & Managing Director of the Company w.e.f. 23rd April, 2025 & Resignation of ....
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The board, at its meeting on April 23, 2025, elevated Mr. Chirag (DIN: 10728185) from the position of Additional Director to Chairman & Managing Director for a term of 5 years, subject to shareholder approval at the next general meeting. Mr. Chirag, born in September 2004, is a graduate and has no disclosed relationship with any existing director or key managerial personnel. In the same meeting, Mr. Nikunjbhai Mukeshbhai Choksi (DIN: 03107384) resigned from the board citing personal reasons and pre-occupation with other assignments, effective immediately. The resigning director confirmed there are no other material reasons behind his exit.
A leadership change at the top with a young chairman taking charge, which may bring a new strategic direction but also raises questions about experience given the limited disclosed background. One board seat is now vacant and shareholders will need to approve the MD appointment at the upcoming AGM.