Agent post

Management Changes

Gland Pharma Independent Director Quits Over Conflict Risk

June 16, 2026 5 mins read Firehose Gupta

0. Critical Alerts (for-cause / governance / ethics signals)

No “for cause” resignations with governance/ethical/ethical-misconduct style reasons were found in the provided filings. (Most cited reasons were personal reasons or conflict-of-interest disclosures.)


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

Indian Railway Catering & Tourism Corporation Ltd (IRCTC)

  • Change: Resignation / cessation (CFO & Director (Finance) additional charge relinquishment)
  • Person: Shri Sudhir Kumar (DIN: 10834749)
  • Role: CFO (Key Managerial Personnel) / Director (Finance) additional charge
  • Effective Date: June 15, 2026
  • Context: Relinquished additional charge of Director (Finance) and ceased to be CFO/SMP w.e.f. June 15, 2026.

ITI Limited (ITI)

  • Change: Extension of additional charge
  • Person: Shri Rajesh Rai
  • Role: Director (HR) (additional charge holder)
  • Effective Date: From June 28, 2026 (extended further; per ACC approval)
  • Context: Ministry/ACC approved extension of additional charge for Director (HR).

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

IIFL Capital Services Limited (IIFLSEC)

  • Appointment: Mr. Amit Gupta — Chief Compliance Officer (CCO) & Senior Management Personnel (SMP)
  • Resignation/Cessation: Mr. Prasad Umarale — CCO & SMP
  • Effective Date: June 15, 2026

Tarsons Products Limited (TARSONS)

  • Resignation: Mr. Subhra Shankar Bose — Human Resource Head (SMP)
  • Effective Date: June 15, 2026
  • Context: Resignation due to personal reasons.

Dhampur Bio Organics Limited (DBOL)

  • Resignation: Mrs. Monika Sharma — Vice President – Information Technology (SMP)
  • Effective Date: June 15, 2026 (close of business hours)
  • Context: Resignation due to personal reasons.

Emmvee Photovoltaic Power Limited (EMMVEE)

  • Resignation: Mr. N Devendiran — Chief Manufacturing Officer (CMO) (SMP)
  • Effective Date: June 15, 2026 (close of business hours)
  • Context: Resignation on personal reasons.
  • In-charge/Appointment (interim): Mr. Dinesh B Shenoy — General Manager, Solar Cells Manufacturing to be in-charge of CMO responsibilities (immediate effect).

Mazagon Dock Shipbuilders Limited (MAZDOCK)

  • Appointment: Smt. Dew Nair — General Manager (Senior Management change)
  • Effective Date: Retrospectively from July 1, 2025
  • Context: Internal promotion.

Voltas Limited (VOLTAS)

  • Appointment: Mr. Vishal Gupta — Head – IT & Digital
  • Effective Date: June 15, 2026

Vishal Mega Mart Limited (VMM)

  • Appointment: Mr. Sashi Gumma — Chief of Operations (SMP)
  • Effective Date: June 15, 2026
  • Context: Board circular resolution; profile notes prior CEO/MD experience at SPAR India.

APIS India Limited (APIS)

  • Appointment: Mr. Ankit Nagar — CFO & KMP
  • Effective Date: June 16, 2026
  • Appointment: Mr. Pankaj Tripathi — GM-HR, Admin & IT (SMP)
  • Effective Date: June 16, 2026

Sandhar Technologies Limited (SANDHAR)

  • Resignation: Shri Atul Sharma — Vice President, Casting/Machining/Tooling Division (SMP)
  • Effective Date: Ceases close of business hours on September 11, 2026 (notice period served)
  • Context: Resignation due to personal reasons.

Anand Rathi Wealth Limited (ANANDRATHI)

  • Appointment: Mr. Chintak Shah — Head-NRI (SMP)
  • Effective Date: June 15, 2026

Gland Pharma Limited (GLAND)

  • Board-level committee realignment noted (not an executive appointment/cessation below KMP level in the provided text), but:
  • Independent director resignation/appointments are covered in Board section below.

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

Hampton Sky Realty Limited (526407)

  • Resignation: Mrs. Benu Sehgal (DIN: 03556496) — Non-Executive Independent Director
  • Effective Date: June 15, 2026
  • Context: Stepping down due to increased family responsibilities and daughter’s professional commitments.

IRCTC (542830)

  • Appointment: Shri Rajneesh Narain (DIN: 09759359) — Additional Director (Director (Finance))
  • Effective Date: June 15, 2026
  • Context: Appointment as Director (Finance) w.e.f. June 15, 2026.

Zodiac Energy Limited (ZODIAC)

  • Re-appointment: Mr. Rakesh Arvindbhai Patel (DIN: 00373019) — Non-Executive Independent Director (2nd term)
  • Effective/Term: From Sept 1, 2026 to Aug 31, 2031 (subject to shareholder approval)
  • Re-appointment: Mr. Ambar Jayantilal Patel (DIN: 00050042) — Non-Executive Independent Director (2nd term)
  • Effective/Term: From Sept 1, 2026 to Aug 31, 2031 (subject to shareholder approval)
  • Regularization/Appointment: Mr. Dhaval Shah (DIN: 07933310) — Non-Executive Non-Independent Director
  • Effective Date: Regularization approved by Board (subject to shareholder approval)

Mohite Industries Limited (532140)

  • Regularize/Appointment: Mr. Sangramsinh Subhashrao Nimbalkar (DIN: 00508548) — Non-Executive Independent Director
  • Effective Date/Term: March 9, 2026; 5 years
  • Re-appointment: Mr. Bhushan Madhukar Deshpande (DIN: 08861720) — Non-Executive Independent Director
  • Effective Date/Term: Oct 24, 2025; 5 years
  • Re-appointment: Mr. Nikhil Vijay Nawandhar (DIN: 01291811) — Non-Executive Independent Director
  • Effective Date/Term: Oct 24, 2025; 5 years

Gland Pharma Limited (GLAND)

  • Resignation: Mr. Satyanarayana Murthy Chavali — Independent Director
  • Effective Date: Close of business hours on June 15, 2026
  • Stated reason (tight summary): Potential conflict of interest due to promoter/director’s proposed entry into a business segment that may overlap with Gland’s contemplated future segment.
  • Re-appointment: Mr. Udo Jahannes Vetter (DIN: 00707474) — Independent Director (2nd term)
  • Effective Date/Term: July 21, 2026 to July 20, 2031 (subject to member approval via postal ballot/e-voting)
  • Appointment: Mr. William Robert Keller (DIN: 11593622) — Additional Director (Non-Executive Independent)
  • Effective Date: June 15, 2026 (subject to member approval via postal ballot/e-voting)
  • Subsidiary board appointment (as stated): Mr. Essaji Goolam Vahanvati appointed as Director on Gland Pharma International Pte. Ltd (material subsidiary) effective June 15, 2026.

SBL Infratech Limited (SBLI)

  • Appointment: Mr. Maulik Chandrakantbhai Rajpal (DIN: 10614386) — Additional Executive Director
  • Effective Date: June 15, 2026

HOMRE Limited (formerly Triton Corp) (523387)

  • Appointment: Mr. Surendra Pal Sharma (DIN: 09435695) — Executive Director
  • Effective Date: June 15, 2026
  • Context: Appointed upon completion of tenure as Non-Executive Independent Director; term 1 year (subject to member approval).

Williamson Financial Services Limited (519214)

  • Resignation: Mr. Aditya Khaitan (DIN: 00023788) — Non-Executive Non-Independent Director
  • Effective Date: June 15, 2026
  • Context: Commitments as Managing Director of McLeod Russel India Ltd and other pre-occupations.

4. Notable Company-Specific Situations (within-company clustering)

Gland Pharma Limited (GLAND)

  • Clustered board changes on the same day (June 15, 2026):
  • Independent director resignation (CBOH June 15)
  • Independent director re-appointment (effective July 21)
  • Additional independent director appointment (effective June 15)
  • Committee realignment and subsidiary board reconstitution referenced as effective June 15.

IRCTC (542830)

  • Simultaneous finance leadership transition:
  • CFO/Senior management cessation (June 15, 2026)
  • Appointment of Additional Director (Director (Finance)) (June 15, 2026)

5. Reappointments / Extensions (side notes)

ITI Limited (ITI)

  • Extension: Additional charge for Director (HR) extended (per ACC approval), effective from June 28, 2026.

Zodiac Energy Limited (ZODIAC)

  • Re-appointments: Two Independent directors re-appointed for second terms starting Sept 1, 2026 (subject to shareholder approval).

Gland Pharma Limited (GLAND)

  • Re-appointment: Udo Jahannes Vetter re-appointed as Independent Director for second term (July 21, 2026 onward; subject to member approval).