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Management Changes

CFO and CEO appointments drive leadership reshuffle across firms

July 3, 2026 4 mins read Firehose Gupta

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

0. Critical Alerts (for-cause resignations)

  • None identified in the provided filings where the resignation reason indicates governance/ethical/mismanagement concerns (e.g., “lack of access to information”, “governance/ethical concerns”, “allegations”, “disagreements with management/board”).
    (Some resignations cite “personal reasons/preoccupation”; these are not treated as “for cause” per your criteria.)

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

ATVO Enterprises Limited (ATVOENT)

  • Change: Appointment (CFO)
  • Person: Mr. Manish Kumar Jindal
  • Role: Chief Financial Officer (Key Managerial Personnel)
  • Effective Date: 02 July 2026
  • Context: Board approved appointment to fill vacancy in the office of CFO.

Everest Kanto Cylinder Limited (EKC)

  • Change: Appointment (CEO)
  • Person: Mr. Narender Prasad Gupta
  • Role: Chief Executive Officer (CEO) & KMP
  • Effective Date: 01 July 2026
  • Context: Joined as CEO/KMP following prior intimation.

Rotographics (India) Limited (539922)

  • Change: Appointment (CFO)
  • Person: Mr. Raj Ratan Pugalia
  • Role: Chief Financial Officer (CFO) & KMP
  • Effective Date: 29 June 2026
  • Context: Board appointed CFO with effect from 29 June 2026.

TTI Enterprise Limited (538597)

  • Change: Appointment (MD/Chairman)
  • Person: Mr. Mithun Wales
  • Role: Additional Executive Director, Managing Director & Chairman
  • Effective Date: 02 July 2026
  • Context: Board approved appointment for 5 years, subject to member approval.

  • Change: Resignation (MD)

  • Person: Mr. Sabu Thomas
  • Role: Managing Director & Director & KMP
  • Effective Date: 02 July 2026
  • Context: Resigned citing personal reasons / inability to devote required time.

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

ACUTAAS CHEMICALS LIMITED (ACUTAAS)

  • Appointment: Mr. Anurag Shukla
  • Role: General Manager Operations & Unit Head — Ankleshwar (designated as Senior Management Personnel)
  • Effective Date: 02 July 2026
  • Context: Promotion from Assistant General Manager—Operations.

Deepak Fertilisers and Petrochemicals Corporation Limited (DEEPAKFERT)

  • Appointment: Dr. Naresh Kumar Puritipati
  • Role: President – Human Resources (SMP)
  • Effective Date: 02 July 2026
  • Context: HR function responsibility moved from interim arrangement.

  • Resignation/cessation (additional responsibility): Mr. Naresh Pinisetti

  • Role: President – Corporate Governance (continues), ceases additional interim HR responsibility
  • Effective Date: 02 July 2026
  • Context: Ceases interim responsibility for leading/managing HR.

Kfin Technologies Limited (KFINTECH)

  • Resignation: Mr. Ramesh Ramchandran
  • Role: Senior Vice President – Customer Relationship Management (SMP)
  • Effective Date: 02 July 2026
  • Context: Ceased to hold position due to appointment as Principal Officer at KFin Global Technologies (IFSC) Ltd (wholly-owned subsidiary).

Allied Digital Services Limited (ADSL)

  • Resignation/cessation (role change): Mr. Paresh Shah
  • Role: CEO (ceased)
  • Effective Date: 30 June 2026 (close of working hours)
  • Context: CEO ceased; re-designated subsequently.

  • Appointment: Mr. Paresh Shah

  • Role: Chief Innovation Officer (CINO) (SMP)
  • Effective Date: 01 July 2026
  • Context: Board approval on 18 June 2026.

STL Networks Limited (STLNETWORK)

  • Appointment: Col Girish Nandan Juneja
  • Role: Chief Operating Officer (COO) (SMP)
  • Effective Date: 02 July 2026
  • Context: Board approved appointment on recommendation of NRC.

GP Petroleums Limited (532543)

  • Resignation: Mr. Ashish Garg
  • Role: Vice President – Operations & Supply Chain (SMP)
  • Effective Date: 30 June 2026 (close of business hours)
  • Context: Resigned due to personal reasons.

3. Board / Director Changes (Independent/Non-exec/Additional)

Cupid Breweries and Distilleries Limited (512361)

  • Appointment: Mr. Meharbaba Prasad Kalidasu
  • Role: Additional Independent Director
  • Effective Date: 02 July 2026

  • Appointment: Mr. Soundara Pandian

  • Role: Additional Independent Director
  • Effective Date: 02 July 2026

Dipna Pharmachem Limited (543594)

  • Resignation: Mr. Parin Bhavsar
  • Role: Non-Executive & Independent Director
  • Effective Date: 12 May 2026
  • Context: Resigned due to “pre-occupancy”.

  • Resignation: Mr. Nandish Shaileshbhai Jani

  • Role: Non-Executive & Independent Director
  • Effective Date: 10 June 2026
  • Context: Resigned due to “personal reason”.

  • Appointment: Mr. Jitendra Pradipbhai Parmar

  • Role: Additional Non-Executive & Independent Director
  • Effective Date: 11 May 2026

  • Appointment: Mr. Manish Shrichand Bachani

  • Role: Additional Non-Executive & Independent Director
  • Effective Date: 11 May 2026

Ikoma Technologies Limited (531997)

  • Appointment: Mr. Mahesh Kumar Nayan Kumar
  • Role: Additional Non-Executive Independent Director
  • Effective Date: 02 July 2026
  • Context: Circular resolution; term for one financial year subject to shareholder approval.

  • Appointment: Mr. Gopal Lohia

  • Role: Additional Non-Executive Independent Director
  • Effective Date: 02 July 2026
  • Context: Circular resolution; term for one financial year subject to shareholder approval.

NMS Global Limited (522289)

  • Resignation: Mr. Sugan Chaudhary
  • Role: Non-Executive Director
  • Effective Date: 02 July 2026 (close of business hours)
  • Context: Resigned due to personal reasons; committee memberships also tendered.

Deep Health AI India Limited (539559)

  • Appointment: Mr. Bhupesh Swami
  • Role: Additional Non-Executive Independent Director
  • Effective Date: 02 July 2026
  • Context: Board circular resolution; term stated as 2 years (to 01 July 2028).

Stove Kraft Limited (543260)

  • Appointment: Mr. Chandru Kalro
  • Role: Additional Director (Non-Executive, Non-Independent) & Vice Chairperson
  • Effective Date: 02 July 2026
  • Context: Board approved appointment subject to shareholder approval.

TTI Enterprise Limited (538597)

  • Resignation: Mr. Shashank Suhalka
  • Role: Independent Director
  • Effective Date: 02 July 2026
  • Context: Resigned citing preoccupation/other professional commitments.

  • Appointment: Mr. Nikhil Gehlot

  • Role: Additional Independent Director
  • Effective Date: 02 July 2026
  • Context: Board approved appointment for initial term of 5 years, subject to member approval.

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

Dipna Pharmachem Limited (543594)

  • Clustered board changes: Two independent director resignations reported (effective 12 May 2026 and 10 June 2026) alongside earlier independent director additions (11 May 2026 for two directors).
    (Multiple director exits/additions within a short window, as per the filings.)

TTI Enterprise Limited (538597)

  • Simultaneous leadership transition: MD resignation (Sabu Thomas, effective 02 July 2026) and appointment of new MD/Chairman (Mithun Wales, effective 02 July 2026), plus Independent Director resignation (Shashank Suhalka) and appointment of another Independent Director (Nikhil Gehlot) on the same date.

5. Reappointments / Extensions (side notes)

  • None explicitly stated for CEO/CFO/COO/Chairman/MD reappointments/extensions in the provided set (appointments are new; terms are stated for some director appointments, but not as reappointments of the core roles).