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Management Changes

CFO swaps and CMD reappointments drive BSE leadership changes

May 24, 2026 5 mins read Firehose Gupta

Daily Management Changes Report (BSE filings – last 24 hours)

0. Critical Alerts (Highest Priority)

No “for cause” resignations/removals were found in the provided filings.


1. Key Leadership Changes (CEO/CFO/COO/Chairman/MD)

Solarworld Energy Solutions Limited (SOLARWORLD / 544532)

  • Change: Resignation
  • Person: Ms. Rini Chordia
  • Role: Chairperson & Independent Director
  • Effective Date: Close of business hours on May 26, 2026
  • Context: Resignation due to “pre-occupation and other personal commitments”; company also states confirmation that there are no other material reasons.

Shantidoot Infra Services Limited (543598)

  • Change: Appointment (CFO)
  • Person: Mr. Anit Kumar Roy
  • Role: Chief Financial Officer (CFO)
  • Effective Date: May 23, 2026
  • Context: Board appointed on recommendation of Nomination & Remuneration Committee.

Sandhar Technologies Limited (SANDHAR / 541163)

  • Change: Cessation (Independent Director tenure completion)
  • Person: Shri Arjun Sharma
  • Role: Independent Director (Non-Executive)
  • Effective Date: Close of business hours on May 23, 2026
  • Context: Completed second and final term as Independent Director.

Universal Cables Limited (UNIVCABLES / 504212)

  • Change: Appointment (Company Secretary & CCO)
  • Person: Shri Ajay Kumar Sharma
  • Role: Company Secretary & Chief Compliance Officer (KMP)
  • Effective Date: May 23, 2026
  • Context: Board approved appointment; no change reported for CEO/CFO/COO/Chairman/MD in the provided text.

Studds Accessories Limited (STUDDS / 544599)

  • Change: Appointment (CFO)
  • Person: Mr. Bharat Goyal
  • Role: Chief Financial Officer (CFO)
  • Effective Date: July 1, 2026
  • Context: Board approved CFO appointment; Manish Mehta stepped down from CFO role effective July 1, 2026 (see Executive Management section).

Rainbow Children’s Medicare Limited (RAINBOW / 543524)

  • Change: Re-appointment
  • Person: Dr. Ramesh Kancharla
  • Role: Chairman & Managing Director (CMD)
  • Effective Date: Aug 11, 2026 to Aug 10, 2031 (subject to shareholder approval)
  • Context: Re-appointment for a five-year term.

2. Executive Management Changes (senior executives below CEO/CFO/COO)

Shantidoot Infra Services Limited (543598)

  • Resignation: Mr. Avijeet Kumar
  • Role: CFO
  • Effective Date: Close of business hours on May 14, 2026
  • Context: Board noted resignation dated May 14, 2026; company clarifies he continues as Managing Director (designation unchanged).

Studds Accessories Limited (STUDDS / 544599)

  • Stepping down / role change: Mr. Manish Mehta
  • From: CFO & KMP
  • To: Vice President – Taxation & Compliance (Senior Management)
  • Effective Date: July 1, 2026
  • Context: “deliberate review for strategic organizational restructuring” and succession planning.

Reliance Infrastructure Limited (RELINFRA / 500390)

  • CFO cessation: Shri Vijesh Babu Thota
  • From: CFO
  • To: CEO
  • Effective Date: May 23, 2026 (immediate effect)
  • Context: Appointment as CEO; consequent cessation from CFO.

  • CFO appointment: Shri Asheesh Chaturvedi

  • Role: Chief Financial Officer (CFO)
  • Effective Date: May 23, 2026 (immediate effect)
  • Context: Board approved CFO appointment.

Integrated Capital Services Limited (ICSL / 539149)

  • Resignation: Mr. Pinku Kumar Singh
  • Role: CFO
  • Effective Date: Close of business hours on Feb 14, 2026
  • Context: Resignation to “pursue practice as an Advocate” and apply for Bar Council enrolment.

Aspira Pathlab & Diagnostics Limited (ASPIRA / 540788)

  • Appointment: Mrs. Neetu Maurya
  • Role: Company Secretary & Compliance Officer
  • Effective Date: May 24, 2026

Polyplex Corporation Limited (POLYPLEX / 524051)

  • Resignation: Mr. Sanjiv Chadha
  • Role: Non-Executive Non-Independent Director
  • Effective Date: May 23, 2026 (end of day)
  • Context: Resignation for “personal/professional reasons” (no further cause stated).

  • Appointment: Mr. Ranjit Singh

  • Role: Non-Executive Non-Independent Director (Additional)
  • Effective Date: May 25, 2026
  • Context: Board approved appointment; liable to retire by rotation.

3. Board / Director Changes (Independent/NED/Additional directors)

Solarworld Energy Solutions Limited (SOLARWORLD / 544532)

  • Resignation: Ms. Rini Chordia
  • Role: Chairperson & Independent Director
  • Effective Date: May 26, 2026

Sandhar Technologies Limited (SANDHAR / 541163)

  • Cessation: Shri Arjun Sharma
  • Role: Independent Director
  • Effective Date: May 23, 2026
  • Context: Completed second and final term.

Universal Cables Limited (UNIVCABLES / 504212)

  • Cessation (tenure curtailment): Shri Bachh Raj Nahar
  • Role: Non-Executive Independent Director
  • Effective Date: Close of business hours on June 13, 2026
  • Context: Term curtailed due to age-related compliance (Reg. 17(1A)); special resolution not passed.

Vindhya Telelinks Limited (VINDHYATEL / 517015)

  • Re-appointment: Shri Priya Shankar Dasgupta
  • Role: Non-Executive Independent Director
  • Effective Date: Nov 21, 2026 to Nov 20, 2031 (subject to shareholder approval)

  • Appointment: Shri Pandanda Kariappa Madappa

  • Role: Additional Director designated as Non-Executive Independent Director
  • Effective Date: May 23, 2026 to May 22, 2031 (subject to shareholder approval)

  • Cessation (age-related): Shri Bachh Raj Nahar

  • Role: Non-Executive Independent Director
  • Effective Date: Close of business hours on June 13, 2026
  • Context: Special resolution for continuation not passed; compliance with Reg. 17(1A).

Fusion Finance Limited (FUSION / 543652)

  • Cessation: Ms. Ratna Dharashree Vishwanathan
  • Role: Independent Director
  • Effective Date: May 23, 2026
  • Context: Completion of second & final term.

Rainbow Children’s Medicare Limited (RAINBOW / 543524)

  • Re-appointment: Dr. Ramesh Kancharla
  • Role: Chairman & Managing Director
  • Term: Aug 11, 2026 to Aug 10, 2031 (subject to shareholder approval)

  • Re-appointment: Dr. Dinesh Kumar Chirla

  • Role: Whole Time Director
  • Term: Aug 11, 2026 to Aug 10, 2031 (subject to shareholder approval)

  • Re-appointment: Mr. Santanu Mukherjee

  • Role: Independent Director
  • Term: Oct 22, 2026 to Oct 21, 2031 (subject to shareholder approval)

  • Re-appointment: Ms. Sundari R. Pisupati

  • Role: Independent Director
  • Term: Sep 16, 2026 to Sep 15, 2031 (subject to shareholder approval)

Polyplex Corporation Limited (POLYPLEX / 524051)

  • Resignation: Mr. Sanjiv Chadha
  • Role: Non-Executive Non-Independent Director
  • Effective Date: May 23, 2026 (end of day)

  • Appointment: Mr. Ranjit Singh

  • Role: Non-Executive Non-Independent Director (Additional)
  • Effective Date: May 25, 2026

4. Notable Company-Specific Situations

Shantidoot Infra Services Limited (543598)

  • Clustered finance leadership change: CFO resignation noted (May 14, 2026) followed by CFO appointment on May 23, 2026, while the outgoing CFO continues as Managing Director.

Reliance Infrastructure Limited (RELINFRA / 500390)

  • Simultaneous C-suite reshuffle: CEO appointment for the existing CFO (immediate), and new CFO appointed the same day.

Vindhya Telelinks Limited (VINDHYATEL / 517015)

  • Board reshuffle around independent director tenure/age compliance: continuation curtailed for one independent director (age-related) alongside appointment of an additional independent director and re-appointment of another independent director.

5. Reappointments / Extensions (Side Notes)

Rainbow Children’s Medicare Limited (RAINBOW / 543524)

  • Multiple re-appointments approved for Chairman & MD, Whole Time Director, and Independent Directors (all for five-year terms; subject to shareholder approval).

Dollar Industries Limited (DOLLAR / 541403)

  • Re-appointments approved (subject to shareholder approval):
  • Managing Director: Vinod Kumar Gupta (w.e.f. Sep 1, 2026)
  • Joint Managing Director: Binay Kumar Gupta (w.e.f. Sep 1, 2026)
  • Whole-time Director: Bajrang Kumar Gupta (w.e.f. Sep 1, 2026)
  • Whole-time Director: Krishan Kumar Gupta (w.e.f. Sep 15, 2026)

Shilp Gravures Limited (513709)

  • Designation change (Executive Director → Whole-time Director) for:
  • Pranav Bhalara (w.e.f. May 23, 2026)
  • Kishor Doshi (w.e.f. May 23, 2026)

If you want, I can also provide a ticker-wise “only leadership” table (CEO/CFO/Chairman/MD) for faster scanning.