We hereby inform you that the board of directors of the Company in its meeting held on April 23, 2026, has considered and approved the attached matter.
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a complete change of control and management effective April 23, 2026. The board appointed 6 new directors (3 executive/non-independent and 3 independent) including Mr. Parthh K Mehta as Chairman, all from the new promoter group PPMS Real Estates LLP. Simultaneously, 4 directors including Mr. Daksha Nilesh Vora and Mr. Manas Ranjan Palo resigned. Both the CFO (Ms. Hemali Pankaj Patel) and Company Secretary (Ms. Shreyana Satyashodhak Koyande) resigned and were replaced by Mr. Nikunj Gandhi and Ms. Renu Choudhary respectively. The company also changed its secretarial auditor from VKMG & Associates LLP to M/s. Pooja Gala & Associates, and appointed M/S K. C. Shrimanker & Associates as internal auditor. The registered office is being shifted from Thane to Mumbai subject to approvals.
This is a major governance overhaul signaling a complete takeover. All resignations and appointments cite change of control as the reason. The new management brings real estate sector experience. Shareholders should watch for any open offer obligations and monitor the new board's strategic direction.