Resignation of Mr. Arun S. Agarwal as Company Secretary and Compliance Officer of the Company w.e.f. 13.11.2025.
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At a board meeting on November 13, 2025, Veritas (India) approved its unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025). Consolidated revenue for the quarter was about Rs 1,006 crore while standalone revenue was around Rs 6.88 crore. Mr. Arun S. Agarwal resigned as Company Secretary and Compliance Officer (a Key Managerial Personnel) due to organisational reshuffling, and was replaced by Mr. Amit A. Chavan, who has over 11 years of experience in corporate secretarial and compliance work. Executive Director Mr. Virat Dantwala also resigned, citing his inability to devote sufficient time as he explores other opportunities. The board appointed Mr. Sunil Sehgal (36 years of corporate experience across textile, engineering, chemical, and pharma sectors) as an additional Non-Executive, Non-Independent Director. The company also decided to wind up two Singapore-based subsidiaries — Global Comtrade PTE (which contributed just 0.38% of consolidated turnover) and Veritas Global PTE (which had nil revenue and negative net worth of Rs 38.18 lakhs). All board committees were reconstituted accordingly.
These are largely housekeeping changes: a new CS has already been appointed to ensure compliance continuity, and the Singapore subsidiaries being shut down are very small (under 1% of consolidated revenue). The Executive Director exit is a personnel change rather than a strategic shift, and the ongoing Dighi Port manufacturing project remains the key growth focus. Investors should watch the detailed Q2 numbers for underlying profitability trends.