CEO Resignations Without Governance Red Flags

Daily Management Change Report (Last 24 hours)

0. Critical Alerts (Highest Priority)

No “for cause” resignations were found in the provided filings (i.e., no resignation reasons citing governance/ethics/mismanagement, lack of information, or similar material concerns).

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

Cohance Lifesciences Limited (COHANCE)

• Change: Resignation (Whole-time Director & CFO)
• Person: Mr. Himanshu Agarwal (DIN-06672915)
• Role: Whole-time Director and Chief Financial Officer (Key Managerial Personnel)
• Effective Date: Close of business hours on 13 September 2026
• Context: Resignation to pursue a professional opportunity outside the organisation.

Balkrishna Industries Limited (BALKRISIND)

• Change: Cessation (CFO) due to superannuation; Appointment (CFO)
• Person: Mr. Madhusudan Bajaj
• Role: Chief Financial Officer (Key Managerial Personnel)
• Effective Date: Close of business hours on 17 June 2026

• Context: Ceases upon attaining superannuation (not a resignation).

• Person: Mr. Saroj Kumar Khuntia

• Role: Chief Financial Officer (and Compliance Officer) (Key Managerial Personnel)
• Effective Date: 18 June 2026
• Context: Board appointment following recommendations of Nomination & Remuneration Committee and Audit Committee.

Asahi Songwon Colors Limited (ASAHISONG)

• Change: Resignation (CEO only); clarification that MD continues
• Person: Mr. Gokul Mrugesh Jaykrishna (DIN-00671652)
• Role: Chief Executive Officer (CEO)
• Effective Date: Close of business hours on 26 May 2026
• Context: Resignation limited to CEO role; continues as Managing Director.

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

Equitas Small Finance Bank Limited (EQUITASBNK)

• Appointment: Mr. Shanmugam Manivannan as Chief Digital Officer (designated as Senior Management Personnel)
• Effective Date: 17 June 2026
• Context: Change in internal reporting structure (classification as SMP).

Protean eGov Technologies Limited (PROTEAN)

• Resignation: Mr. Dattaram Mhadgut — Executive Vice President (Chief Technology Officer)
• Effective Date: Last working day 18 June 2026 (resignation tendered 17 June 2026)
• Context: Personal reasons.

Grasim Industries Limited (GRASIM)

• Resignation/Cessation (Senior Management): Mr. Kapil Agrawal — Business Head, Textiles Business (Senior Management Personnel)
• Effective Date: Close of business hours on 31 October 2026

• Context: Internal movement within Aditya Birla Group.

• Appointment (Senior Management): Ms. Sangeeta Tanwani — CEO (Designate) – Textiles Business (Senior Management Personnel)

• Effective Date: 1 August 2026 (CEO – Textiles Business effective 1 November 2026)
• Context: Appointment due to internal movement within Aditya Birla Group.

Rajshree Sugars & Chemicals Limited (RAJSREESUG)

• Appointment: Mr. Madhan S. as Senior Deputy General Manager (Head, Human Resources) (designated as Senior Management Personnel)
• Effective Date: 16 June 2026
• Context: Appointment (subject to company employment policy).

5paisa Capital Limited (5PAISA)

• Resignation: Mr. Sudhendoo Ganddhi — Chief Compliance Officer
• Effective Date: Close of business hours on 16 June 2026
• Context: Pursue career opportunities outside the organisation.

Sandhar Technologies Limited (SANDHAR)

• Resignation: Shri Vikas Puri — KMP
• Effective Date: Accepted resignation effective 17 June 2026 (ceases as KMP; continues as employee until 14 August 2026)
• Context: Personal reasons.

Birla Precision Technologies Limited (BIRLAPREC)

• Resignation: Mr. Shelendra Singh — Assistant Vice President – HR & IR (Senior Management Personnel)
• Effective Date: Close of business hours on 24 August 2026
• Context: Personal reasons (exigencies at personal front).

RDB Real Estate Constructions Limited (RDBREALTY)

• Resignation: Ms. Madhu Gupta — Company Secretary & Compliance Officer (KMP)
• Effective Date: Close of business hours on 16 June 2026
• Context: Personal reasons.

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

Star Housing Finance Limited (STARHFL)

• Appointment: Mr. Yogesh Limbachia (DIN-11709935) as Additional Non-executive Nominee Director
• Effective Date: 17 June 2026 (subject to shareholder approval)
• Context: Nominated by Debenture Trustee (Vardhman Trusteeship Private Limited).

Latent View Analytics Limited (LATENTVIEW)

• Appointment: Ms. Sudha Sankaran (DIN-01086489) as Additional Director (Independent)
• Effective Date: 17 June 2026 (term 5 years; subject to shareholder approval)

• Context: Board circular resolution; based on NRC recommendation.

• Cessation: Ms. Dipali Sheth (DIN-07556685) — Independent Director

• Effective Date: Close of business hours on 17 June 2026

• Context: Completion of first 5-year term.

• Board Committee reconstitution (NRC): Mr. Reed Cundiff redesignated as Chairperson; Ms. Sudha Sankaran inducted as member (effective immediately).

Zuari Agro Chemicals Limited (ZUARI)

• Appointment: Mr. Pramod Kumar Gupta (DIN-00064041) as Additional Director (Non-Executive Non-Independent)
• Effective Date: 17 June 2026 (subject to shareholder approval; postal ballot planned)
• Context: Board circular resolution; subject to shareholder approval.

Asgard Alcobev Limited (ASGARDALCOB)

• Resignation: Ms. Gauri Satish Chiplunkar (DIN-08386053) — Director
• Effective Date: Close of working hours on 17 June 2026
• Context: Personal reasons (voluntary resignation).

Rose Merc Limited (ROSEMER)

• Resignation: Mr. Abhijeet Tipnis (DIN-09566680) — Independent Director
• Effective Date: 16 June 2026
• Context: Other professional and personal commitments.

Harshdeep Hortico Limited (HARSHDEEP)

• Resignation: Mr. Shankar Keshava Vailaya (DIN-00090509) — Independent Director
• Effective Date: 16 June 2026
• Context: Pre-occupation at other places.

Stylam Industries Limited (STYLAMIND)

• Appointments (Additional Directors; subject to shareholder approval):
• Mr. Tirloki Nath Singla (DIN-00182154) — Non-Executive Independent Director (effective close of business hours 17 June 2026; term 5 years)
• Mr. Kenji Ebihara (DIN-11768665) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Mr. Naruhiro Amada (DIN-09591668) — Executive Director (Whole Time Director) (effective 17 June 2026; term 5 years)
• Mr. Nobuyuki Omura (DIN-11056785) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Mr. Yuji Iwatsuka (DIN-08251732) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Mr. Koshi Suzuki (DIN-11768663) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Mr. Makoto Tanaka (DIN-11764640) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Mr. Adisak Thiaphairat (DIN-11765458) — Non-Executive Director (effective 17 June 2026; term 5 years)
• Context: Board approvals at meeting held 17 June 2026, linked to shareholders’ agreement and special rights to Aica.

Oberoi Realty Limited (OBEROIRLTY)

• Appointment: Mr. Babu John as Senior Vice President – Construction (senior management personnel; not a director appointment)
• Effective Date: 17 June 2026
• Context: Appointment (contractual; subject to employment policy).

BSE filing note (not director/leadership change):

• Gallard Steel Limited (GALLARDSTEEL): Appointment of Secretarial Auditor (not a director change).

4. Notable Company-Specific Situations

Stylam Industries Limited (STYLAMIND)

• High concentration of governance changes: Multiple Additional Director appointments (8+ directors) approved in the same board meeting on 17 June 2026, alongside amendments/restatement of AOA and grant of special rights to Aica.

Rose Merc Limited (ROSEMER)

• Independent director exit: Independent director resignation effective 16 June 2026 (single-board change).

5. Reappointments / Extensions (Side Notes)

No CEO/CFO/COO/Chairman/MD reappointments or extensions were explicitly reported in the provided filings (beyond role clarifications such as Asahi Songwon’s CEO resignation limited to CEO role while MD continues).