Please Find enclosed herewith Change In Management for your records.
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United Leasing & Industries has announced a major reshuffle at the top. Mr. Harish Rawat has resigned as Executive Director and Chief Financial Officer effective May 29, 2025, citing pre-occupation and personal commitments. To fill the gap, Mr. Ashish Khanna, who is already the Managing Director and son of Mr. Anil Kumar Khanna, has additionally been appointed as CFO. Mr. Anil Kumar Khanna's designation has changed to Non-Executive Non-Independent Director, moving him out of an executive role. The company has also brought in Ms. Sonia Vaid, a company secretary and legal expert with 5+ years of listed-company compliance experience, as an Additional Independent Director for a 5-year term ending May 28, 2030.
This is a family-led consolidation of control — the Khanna family now holds both the MD and CFO positions, which may raise governance concerns among minority shareholders. The addition of a new independent director is a positive step for board oversight, but the simultaneous exit of the previous CFO could create short-term transition uncertainty.