Resignation of Mr. Virat Dantwala (DIN: 10750573) as Executive Director of the Company w.e.f. 13.11.2025.
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Veritas (India) Limited's board, at its November 13, 2025 meeting, accepted the resignation of Executive Director Mr. Virat Dantwala (DIN: 10750573), who cited new opportunities and inability to devote sufficient time. Company Secretary and Compliance Officer Mr. Arun S. Agarwal, a Key Managerial Personnel, also resigned due to organizational reshuffling, and Mr. Amit A. Chavan was appointed as his replacement. The board approved Q2 FY26 results with consolidated revenue of about Rs. 1,006.4 crore and standalone revenue of Rs. 6.88 crore, along with consolidated cash and equivalents of Rs. 17.4 crore. Two Singapore subsidiaries — Global Comtrade PTE (contributing 0.38% of consolidated turnover) and Veritas Global PTE (nil revenue, negative net worth) — will be wound up for restructuring and financial non-viability reasons, respectively. Mr. Sunil Sehgal, a commerce graduate with 36 years of cross-industry experience, was appointed as an Additional Non-Executive, Non-Independent Director.
Two senior exits in a single sitting suggest ongoing internal restructuring at the company. The subsidiary closures are financially minor (combined <1% of consolidated turnover) and unlikely to move the needle, but investors should watch for any further board or KMP changes that could affect governance stability.