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Management Changes

Managing Director reshuffle at Magnus Steel and Infra

July 9, 2026 6 mins read Firehose Gupta

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

0. Critical Alerts (Resignation “for cause”)

  • None identified in the provided filings.
    (All independent director resignations cited “personal reasons / pre-occupation / other commitments” without governance/ethics/mismanagement allegations.)

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

UCAL LIMITED (UCAL)

  • Change: Re-appointment
  • Person: Mr. Jayakar Krishnamurthy (DIN: 00018987)
  • Role: Managing Director (Designated as Chairman & Managing Director)
  • Effective Date: 01 Sep 2026
  • Context: Re-appointed for 5 years (subject to shareholder approval).

Shah Foods Limited (519031)

  • Change: Appointment
  • Person: Mr. Anuj Jalan (DIN: 02525506)
  • Role: Chairman & Additional Managing Director
  • Effective Date: 08 Jul 2026 (term 3 years, subject to shareholder approval)
  • Context: Post completion of open offer; new promoters inducted.

Fortis Healthcare Limited (FORTIS)

  • Change: Re-appointment
  • Person: Dr. Ashutosh Raghuvanshi
  • Role: Managing Director & CEO
  • Effective Date: 19 Mar 2027
  • Context: Re-appointed for 2 years (subject to shareholder approval).

Shraddha Prime Projects Ltd (531771)

  • Change: Re-appointment
  • Person: Mr. Sudhir Mehta (DIN: 02215452)
  • Role: Managing Director
  • Effective Date: 07 Aug 2026
  • Context: Re-appointed for 5 years (approved via postal ballot).

Magnus Steel and Infra Limited (517320)

  • Change: Resignation (MD)
  • Person: Mr. Chinmay Pradhan (DIN: 10753724)
  • Role: Managing Director
  • Effective Date: 08 Jul 2026 (after close of business hours)
  • Context: Resigned due to increased professional and personal commitments.

  • Change: Appointment / Designation change

  • Person: Mr. Karronn Bajaj (DIN: 09375579)
  • Role: Managing Director (changed from Director)
  • Effective Date: 08 Jul 2026 (subject to member approval)
  • Context: Board approved change in designation to MD.

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

Punjab National Bank (PNB)

  • Appointment: Shri Uttam KumarGeneral Manager (CISO) and Head – Cyber Info Office (as per filing)
  • Effective Date: 08 Jul 2026
  • Context: “Change in Senior Management” (CISO role).

Welspun Enterprises Limited (WELENT / 532553)

  • Appointment / Role expansion: Mr. Sandeep Garg — Managing Director to assume interim leadership of Water vertical operations
  • Effective Date: Immediate effect (08 Jul 2026)
  • Context: Organizational realignment for Water vertical.

  • Resignation: Mr. Hardik DhebarHead Finance & Investor Relations and CFO (WMEL)

  • Effective Date: Accepted 08 Jul 2026; relieved 14 Aug 2026 (close of business hours)
  • Context: Transition linked to Water vertical realignment.

Diligent Media Corporation Limited (DNAMEDIA / 540789)

  • Resignation: Ms. Kusum Lata — Chief Sub Editor–Team Lead (DNA Hindi)
  • Effective Date: 05 Jun 2026 (end of working hours)
  • Context: Resigned to pursue career outside the organization.

Canara Bank (CANBK / 532483)

  • Appointment: Shri Sujit Kumar SahooInterim Group Chief Compliance Officer (GCCO)
  • Effective Date: 29 Jun 2026
  • Context: Designated by order dated 08 Jul 2026.

  • Resignation: Shri Mahesh M Pai — Chief General Manager, Digital Banking Wing

  • Effective Date: Resignation received 08 Jul 2026; relieving sought 31 Jul 2026 (subject to competent authority approval)
  • Context: “Pursue better prospects in the Banking Sector.”

Capri Global Capital Limited (CGCL / 531595)

  • Appointment: Mr. Ignatius KaithaCHRO (designated as SMP)
  • Effective Date: 08 Jul 2026
  • Context: Board circular resolution.

  • Appointment: Mr. Ateet ParikhChief Collection Officer (designated as SMP)

  • Effective Date: 08 Jul 2026
  • Context: Board circular resolution.

Omaxe Limited (OMAXE / 532880)

  • Resignation: Mr. Shivaji PatilVice President–PMO
  • Effective Date: Last working day: 08 Jul 2026
  • Context: Resigned due to personal reasons.

Dharmaj Crop Guard Limited (DHARMAJ / 543687)

  • Resignation: Mr. Bhupendra VarasadaSenior Managerial Personnel (Head of Operations unit)
  • Effective Date: 08 Jul 2026
  • Context: “Pursue a new career opportunity.”

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

Amalgamated Electricity Company Limited (AECL)

  • Resignation: Mr. Krishnaprasad Ramanathan (DIN: 07209850)
  • Role: Non-Executive Independent Director
  • Effective Date: 08 Jul 2026
  • Reason (stated):personal reasons”.

AKI India Limited (542020)

  • Resignation: Mr. Nandish Shaileshbhai Jani (DIN: 09565657)
  • Role: Non-Executive Independent Director
  • Effective Date: 07 Jul 2026
  • Reason (stated):personal reason” (and confirmation: no other material reasons).

Technichem Organics Limited (544327)

  • Resignation: Ms. Jaina M. Mehta
  • Role: Independent Director
  • Effective Date: 07 Jul 2026
  • Reason (stated):pre-occupation elsewhere”.

Amir Chand Jagdish Kumar (Exports) Limited (AMIRCHAND / 544743)

  • Re-appointment: Mr. Gauri Shankar (DIN: 06764026)
  • Role: Independent Director (2nd term)
  • Effective Date: 09 Jul 2026 to 08 Jul 2031 (subject to shareholder approval)

  • Re-appointment: Ms. Rajni (DIN: 10650061)

  • Role: Independent Director (2nd term)
  • Effective Date: 27 Aug 2026 to 26 Aug 2031 (subject to shareholder approval)

Innovision Limited (INNOVISION / 544732)

  • Re-appointment / Regularization: Mr. Aditya Jha (DIN: 01962674)
  • Role: Non-Executive Independent Director
  • Effective Date: Regularized at shareholders’ approval on 08 Jul 2026; term commenced 10 Apr 2026 (5 years)

Onesource Industries and Ventures Limited (530805)

  • Appointments:
  • Mr. Himanshu Suryakantbhai Soni (DIN: 11780618) — Additional Non-Executive Independent Director
  • Ms. Shital Kishorbhai Fumakiya (DIN: 11789489) — Additional Non-Executive Independent Director
  • Effective Date: 08 Jul 2026 (subject to shareholder approval)

  • Resignations:

  • Mr. Atul Chauhan (DIN: 00465990) — Independent Director
  • Mr. Rahul Kumar Lalwani (DIN: 10768522) — Independent Director
  • Effective Date: 08 Jul 2026
  • Reason (stated): personal reasons / pre-occupation / professional commitments (no other material reasons confirmed).

UCAL LIMITED (UCAL)

  • Re-appointments (Board):
  • Mr. Ramachandran Sundar (DIN: 10831047) — Non-Executive Independent Director (2nd term)
    • Effective: 13 Nov 2026 to 12 Nov 2031 (subject to shareholder approval)
  • Mr. Abhaya Shankar (DIN: 00008378) — Non-Executive Non-Independent Director
    • Effective: 14 Nov 2026 to 13 Nov 2028 (subject to shareholder approval)

Amalgamated Electricity Company Limited (AECL)

  • (covered above under resignation)

Shah Foods Limited (519031)

  • Appointments (subject to shareholder approval):
  • Ms. Pragati Goel — Additional Independent NED (5 years)
  • Mr. Shivam Gupta — Additional Independent NED (5 years)
  • Mr. Giri Raj Prasar — Additional Independent NED (5 years)
  • Mr. Daivik Jalan — Additional Non-Independent Non-Executive Director
  • Mr. Rajkumar Jalan — Additional Executive Director
  • Resignations (recorded; effective close of business hours on 09 Jul 2026):
  • Ms. Hemakshi Manan Patel — Managing Director
  • Mr. Rohitkumar Mehrchand Bhandari — Independent Director
  • Mr. Balveermal Kewalmal Singhvi — Independent Director
  • Mr. Advait Satyavikas Joshi — Independent Director
  • Ms. Namrata Girish Vyas — Company Secretary (listed as resignation of CS)

Magnus Steel and Infra Limited (517320)

  • Resignations:
  • Mr. Prakash Salve — Additional Executive Director (effective close of business hours on 08 Jul 2026)
  • Mrs. Aarti Singh — Non-Executive Independent Director (effective close of business hours on 08 Jul 2026)
  • Reason (stated): personal commitments (no material reasons other than stated)

Thrive Future Habitats Limited (523120)

  • Appointment: Ms. Shobha Joshi — Company Secretary & Compliance Officer
  • Effective Date: 08 Jul 2026

MTNL (500108)

  • Cessation:
  • Shri Sunil Kumar Ranjan — Government Nominee Director (ceased 08 Jul 2026)
  • Shri Alok Shukla — Government Nominee Director (ceased 08 Jul 2026)
  • Appointment:
  • Shri Shyamal Misra — Government Nominee Director (ex-officio)
  • Shri K Balaji — Government Nominee Director (ex-officio)
  • Effective Date: Immediate effect (08 Jul 2026)

Omaxe / Dharmaj / Capri / Diligent / Welspun / Others

  • No board/director changes captured beyond the items listed above.

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

Shah Foods Limited (519031)

  • High clustering of exits/entries:
  • Multiple director/MD/CS resignations recorded effective close of business hours on 09 Jul 2026 (MD + 3 Independent Directors + CS).
  • Simultaneously, board approved new promoter-led appointments on 08 Jul 2026 (Chairman & Additional MD, Executive Director, Non-Executive director, and 3 Independent directors; plus CFO and CS appointment effective 08 Jul 2026).
  • Stated context: “Consequent to the change in management” after completion of open offer.

Onesource Industries and Ventures Limited (530805)

  • Simultaneous Independent director resignations: Atul Chauhan and Rahul Kumar Lalwani resigned 08 Jul 2026, alongside appointment of two new Independent directors effective the same date.

Magnus Steel and Infra Limited (517320)

  • MD transition on same day: resignation of MD (Chinmay Pradhan) and designation change of Karronn Bajaj to MD, both effective 08 Jul 2026; plus other director resignations.

5. Reappointments / Extensions (side notes)

  • Fortis Healthcare Limited: Dr. Ashutosh Raghuvanshi re-appointed MD/CEO for 2 years from 19 Mar 2027 (subject to shareholders).
  • UCAL Limited:
  • Jayakar Krishnamurthy MD/Chairman re-appointed for 5 years from 01 Sep 2026 (subject to shareholders).
  • Ramachandran Sundar Independent director re-appointed for 5 years from 13 Nov 2026 (subject to shareholders).
  • Abhaya Shankar Non-Executive Non-Independent director re-appointed for 2 years from 14 Nov 2026 (subject to shareholders).
  • Shraddha Prime Projects: Sudhir Mehta MD re-appointed for 5 years (postal ballot approval).
  • Amir Chand Jagdish Kumar (Exports): Independent director re-appointments for second terms (subject to shareholders).

If you want, I can also provide a one-page “changes table” (company × role × effective date) for faster internal scanning.