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Management Changes

Open-offer MD swap at Lippi Systems

August 28, 2026 6 mins read Firehose Gupta

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

0. Critical Alerts (for-cause resignations)

No “for cause” resignations with governance/ethics/mismanagement-type reasons were found in the provided filings.


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

Lippi Systems Limited (526604)

  • Change: Resignation
  • Person: Nandlal Jaigopal Agrawal
  • Role: Managing Director
  • Effective Date: 27 August 2026 (w.e.f.; “close of business hours”)
  • Context: Resignation “pursuant to post open offer announcement / change in management and control… following the successful completion of the Open Offer process.”

  • Change: Appointment

  • Person: Jagdish Dholu
  • Role: Managing Director
  • Effective Date: 27 August 2026
  • Context: Appointed for a five-year term (subject to shareholder approval), “pursuant to post open offer announcement.”

GRE Renew Enertech Limited (GRERENEW / 544682)

  • Change: Resignation
  • Person: Alpeshkumar Laxmanji Agrawal
  • Role: Chief Financial Officer (CFO)
  • Effective Date: 5 September 2026 (close of business hours)
  • Context: Resignation “to pursue career opportunities.”

Tata Steel Limited (500470)

  • Change: Cessation (superannuation)
  • Person: Jayanta Banerjee
  • Role: Chief Information Officer (CIO) (not in the requested core roles list; excluded from key-leadership section)
  • Effective Date: 1 November 2026
  • Context: “Cessation (Due to Superannuation) as: Chief Information Officer.”

(No CEO/CFO/COO/Chairman/MD changes reported for Tata Steel in the provided text.)


Sun Retail Limited (542025)

  • Change: Appointment
  • Person: Sanjay Patil
  • Role: Managing Director (MD)
  • Effective Date: 27 August 2026 (subject to shareholder approval at ensuing AGM)
  • Context: Board appointed him as MD “subject to the approval of the shareholders… at the ensuing Annual General Meeting.”

Parmeshwari Silk Mills Limited (540467)

  • Change: Appointment (designation change)
  • Person: Jatinder Pal Singh
  • Role: Managing Director (MD)
  • Effective Date: 27 August 2026
  • Context: “Change in designation… from Whole Time Director to Managing Director… commencing from 27th August, 2026 to 31st August, 2029, subject to approval… at ensuing 33rd AGM.”

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

Tata Steel Limited (500470)

  • Appointment: Manish Garg as Chief Information Officer (CIO) effective 1 Nov 2026 (designated successor to Jayanta Banerjee).
  • Resignation/Cessation: Jayanta Banerjee (CIO) superannuation effective 1 Nov 2026.

Studds Accessories Limited (STUDDS / 544599)

  • Resignation: Manish Mehta — Vice President (Taxation & Compliance) (SMP) effective 27 August 2026 (close of working hours).
  • Context: Resigned “to pursue career opportunities.”

SGL RESOURCES LIMITED (526544)

  • Resignation: (Independent directors only; no executive role changes for CFO/CEO/COO reported in the provided text.)

Sunshine Capital Limited (539574)

  • Appointment: Pramod Kumar Jha as Chief Financial Officer (CFO) effective 27 August 2026 (subject to shareholder approval at ensuing AGM as stated).

Studds / ACI Infocom / Others

  • No other qualifying senior executive (non-core) changes were clearly specified in the provided filings beyond those listed above.

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

Lippi Systems Limited (526604)

  • Appointment: Vinesh Dholu — Additional Director (Executive Non-Independent) w.e.f. 27 Aug 2026 (holds office upto ensuing AGM).
  • Appointment: Jagdish Dholu — Additional Director (Executive Non-Independent) w.e.f. 27 Aug 2026 (holds office upto ensuing AGM).
  • Appointment: Jaimish Patel — Additional Director (Non-Executive, Independent) for 5 years from 27 Aug 2026 (subject to shareholder approval).
  • Appointment: Shivji Dholu — Additional Director (Non-Executive, Non-Independent) from 27 Aug 2026 upto ensuing AGM (subject to shareholder approval).
  • Resignation: Nandlal Jaigopal Agrawal — Director w.e.f. 27 Aug 2026.
  • Resignation: Tirthraj Ashokbhai Pandya — Director w.e.f. 27 Aug 2026.
  • Resignation: Kunal Nandlal Agrawal — Director w.e.f. 27 Aug 2026.
  • Resignation: Apexa Ajaykumar Panchal — Director (Independent Woman Director) w.e.f. 27 Aug 2026.

SGL Resources Limited (526544)

  • Resignation: Mohan Lakhanlal Chandiramani — Independent Director w.e.f. 26 Aug 2026
  • Reason stated: “inability to attend the scheduled meetings… and consequently… inability to effectively discharge their duties”
  • Resignation: Murli Chandak — Independent Director w.e.f. 26 Aug 2026
  • Reason stated: same as above.

IndusInd Bank Limited (532187)

  • Appointment: Mini Ipe — Non-Executive Independent Director for 4 years from 3 Aug 2026 to 2 Aug 2030.
  • Appointment: Ganesh Sankaran — Whole-time Director (Executive Director) for 3 years from 4 Aug 2026 to 3 Aug 2029.
  • Appointment: Jagdeep Mallareddy — Whole-time Director (Executive Director) for 3 years from 4 Aug 2026 to 3 Aug 2029.

Bridge Securities Limited (530249)

  • Resignation: Manish Shrichand Bachani — Non-Executive Independent Director w.e.f. 27 Aug 2026
  • Reason stated: “Due to personal reasons”
  • Appointment: Sanketkumar Dave — Additional Non-Executive Independent Director w.e.f. 27 Aug 2026

Sanchay Finvest Limited (511563)

  • Appointment: Rohit Mishra — Additional Non-Executive Independent Director w.e.f. 26 Aug 2026 for 5 years (subject to shareholder approval).
  • Appointment: Gaurang Karmakar — Additional Non-Executive Independent Director w.e.f. 26 Aug 2026 for 5 years (subject to shareholder approval).
  • Appointment: Lily Mundu — Additional Non-Executive Non-Independent Director w.e.f. 26 Aug 2026 (subject to shareholder approval).
  • Resignation: Nikhil Mathur — Independent Director w.e.f. 26 Aug 2026 (personal/professional commitments).
  • Resignation: Milan Shah — Independent Director w.e.f. 26 Aug 2026 (personal/professional commitments).
  • Re-appointment: Sarthak Sharma — Whole-Time Director for 5 years from 26 Aug 2026 to 25 Aug 2031 (subject to shareholder approval).

Bajaj Hindusthan Sugar Limited (500032)

  • Appointment: Nand Lal Kalra — Independent Director for 5 years from 28 Aug 2026 to 27 Aug 2031.
  • Appointment: Sanoj Kumar Potdar — Non-Executive Nominee Director (PNB) w.e.f. 28 Aug 2026.
  • Appointment: Dr. Anil Rishiraj — Non-Executive Non-Independent Director w.e.f. 29 May 2026.

TBO Tek Limited (TBOTEK / 544174)

  • Re-appointment (Independent Directors approved by shareholders):
  • Ravindra Dhariwal — second term from 24 Nov 2026 to 10 Sep 2027 (until age 75).
  • Rahul Bhatnagar — second term 5 years from 24 Nov 2026 to 23 Nov 2031.
  • Anuranjita Kumar — second term 5 years from 24 Nov 2026 to 23 Nov 2031.
  • Bhaskar Pramanik — second term from 24 Nov 2026 to 23 Nov 2027.

Asian Hotels (East) Limited (533227)

  • Re-appointment: Sandipan Chakravortty — Non-Executive Independent Director (second term) effective 10 Aug 2026 (approved at AGM).
  • Continuation: Also approved continuation as Non-Executive Director under Regulation 17(1A) due to age 75+.

Rail Vikas Nigam Limited (RVNL / 542649)

  • Re-appointment: Rakesh Bhalla — Additional Director designated as Independent Director, re-appointed w.e.f. 25 Aug 2026 (term stated as 3 years).

ACI Infocom Limited (517356)

  • Resignation: Nishant Bajaj & Associates — Secretarial Auditor effective 27 Aug 2026 (not a director change; excluded from board section).
  • Appointment: D Maurya and Associates — Secretarial Auditor (not a director; excluded).

Other director-related items

  • Maxgrow India Limited: designation change of a director (non-core leadership) and regular board items; no CEO/CFO/COO/Chairman/MD changes specified in the provided excerpt.
  • Flair Writing Industries Limited: re-appointment of Whole-time Directors (not in core roles list; excluded from key leadership but noted as board-level below if needed—however the request only mandates CEO/CFO/COO/Chairman/MD for section 1).

4. Notable Company-Specific Situations

Lippi Systems Limited (526604)

  • High concentration of governance/management transition actions on the same date (27 Aug 2026):
  • Multiple director resignations (4 directors including MD) and simultaneous appointments of new executive directors/MD and independent director(s).
  • Also includes statutory auditor resignation + appointment and committee reconstitution, all tied to “post open offer / change in management and control.”

5. Reappointments / Extensions (Side Notes)

TBO Tek Limited (TBOTEK / 544174)

  • Multiple re-appointments of Non-Executive Independent Directors for second terms (as detailed above).

KK Silk Mills Ltd (544624)

  • Re-appointment (shareholders approved at AGM 27 Aug 2026):
  • Mrs. Asha Shah — Non-Executive Director (retiring by rotation).
  • Manish Shah — Managing Director (re-appointment).
  • Nilesh Jain — Whole Time Director (re-appointment).

Flair Writing Industries Limited (544030)

  • Re-appointment: Whole-time Directors for further 5-year terms commencing 1 Apr 2027 (as per Scrutinizer’s report approval).

Asian Hotels (East) Limited (533227)

  • Re-appointment: Sandipan Chakravortty as Independent Director (second term) effective 10 Aug 2026.

If you want, I can also provide a separate “Auditor/Secretarial/Internal Auditor changes” table (since several companies changed auditors in the same window).