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Management Changes

Coforge Chair O P Bhatt Resigns Over Internal Audit Concerns

September 9, 2026 6 mins read Firehose Gupta

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

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

Coforge Limited (532541)
Person / Role: Mr. O P Bhatt — Chairperson & Non-Executive Independent Director
Nature: Resignation (with immediate effect; noted as tendered on Sep 8, 2026)
Stated Reason (tight summary): Internal audit review “identified certain concerns” that “certain material information… and the performance of the Chairman had not been fully disclosed to the Board” when the Board Evaluation Report was presented.
Why this matters: The filing links the resignation to governance/disclosure concerns identified via internal audit and Board follow-up.


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

Octaware Technologies Limited (540416)
Change: Appointment
Person: Mr. Venkatesan Devanathan
Role: Chief Financial Officer (CFO) & Key Managerial Personnel
Effective Date: 8 Sep 2026
Context: Board approved appointment at its meeting held on 8 Sep 2026.

Chandni Machines Limited (542627)
Change: Re-appointment
Person: Richie Hiralal Amin
Role: Independent Director (re-appointment for second term)
Effective Date: 7 Nov 2026
Context: Re-appointed for a second term of five consecutive years (Board approval disclosed; shareholder approval implied in annexure context).

Garware Technical Fibres Limited (509557)
Change: Re-appointment
Person: Mr. V. R. Garware
Role: Managing Director (to be designated “Chairman and Managing Director”)
Effective Date: 1 Dec 2026
Context: Re-appointed as MD and designated as Chairman & MD for a period of five years (shareholders approved at 49th AGM held 8 Sep 2026).


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

Arisinfra Solutions Limited (544419)
Resignation: Mr. Suvesh Prasad Sinha — Vice President (Product and Strategy)
Effective Date: Close of business hours, 8 Sep 2026
Context: Resigned to pursue better career opportunities; company relieved him.

Digitide Solutions Limited (544413)
Appointment / Update (Senior Management):
– Ms. Ruchi Ahluwalia — Chief Operating Officer (COO)
– Mr. Sunil Kumar Sharma — Chief Business Officer (BFSI-BPM, India)
– Mr. Sandeep Dutta — Chief Business Officer (Non BFSI)
– Mr. Sandeep Malhotra — Chief Service Line Leader
– Mr. Jeevankumar Dontul — Sr. Vice President (Delivery / BU Leader for Tech & Digital)
Effective Date: Immediate effect (as per filing)
Context: “Updation/addition to senior management” under Regulation 30.

Rajesh Exports Limited (531500)
Change: Appointment (Company Secretary)
Person: Mr. Dipak Kadel
Role: Company Secretary & Compliance Officer
Effective Date: 7 Sep 2026
Context: Appointed in place of Mr. Vikash Kumar Khetan, who resigned due to personal reasons.


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

Goyal Associates Limited (530663)
Appointment: Mr. Anjay Solanki — Additional Director (w.e.f. 8 Sep 2026; subject to shareholder approval)
Appointment: Mr. Ajay Solanki — Managing Director (w.e.f. 8 Sep 2026; subject to shareholder approval)
Appointment: Mr. Ankush Pandey — Additional Independent Director (w.e.f. 8 Sep 2026; subject to shareholder approval)

Gallard Steel Limited (544616)
Appointment: Shri Praveen Sinha — Additional Independent Director (w.e.f. 8 Sep 2026; term 5 years; subject to member approval)
Appointment: Shri Habib Khandwala — Additional Independent Director (w.e.f. 8 Sep 2026; term 5 years; subject to member approval)
Statutory Auditor (not a director): Recommended appointment of M/s Anil Kamal Garg & Co. as statutory auditors (subject to shareholder approval)

Svarnim Trade Udyog Limited (539911)
Appointment: Mr. Parin Shirishkumar Bhavsar — Additional Independent Director (w.e.f. 8 Sep 2026)
Appointment: Ms. Sangeeta Aggarwal — Additional Non-Executive Director cum Chairperson (w.e.f. 8 Sep 2026)
Resignation/Cessation (non-approval at 44th AGM):
– Mr. Gulshan Kumar Aggarwal — ceased as Non-Executive Director cum Chairperson (effective 7 Sep 2026)
– Ms. Nidhi Bansal — ceased as Non-Executive Independent Director (effective 7 Sep 2026)

Indian Metals & Ferro Alloys Limited (533047)
Appointment: Mr. Partha Satpathy — Additional Non-Executive Independent Director
Effective Date: 8 Sep 2026 (subject to shareholder approval; term 3 years)

Octaware Technologies Limited (540416)
Resignation: Ms. Vidya Hemakar Shetty — Non-Executive Independent Director
Effective Date: Close of business hours, 7 Sep 2026 (tendered/board noted on 8 Sep 2026)
Stated Reason: “Personal reasons / pre-occupation with other professional assignments” (as per annexure)

Multiplus Holdings Limited (505594)
Appointment: Mrs. Dhwani Jaspalsinh Solanki — Additional Non-Executive Independent Director (effective 8 Sep 2026; subject to shareholder approval; term 5 years)
Appointment: Mrs. Shivangi Digant Shah — Additional Non-Executive Independent Director (effective 8 Sep 2026; subject to shareholder approval; term 5 years)

Orient Tradelink Limited (531512)
Appointment: Ms. Bhawna Shadija — Additional Independent Director (w.e.f. 8 Sep 2026; subject to shareholder approval; term 5 years)
Appointment: Mr. Akash Singh Tomar — Additional Independent Director (w.e.f. 8 Sep 2026; subject to shareholder approval; term 5 years)

Munoth Capital Market Limited (511200)
Appointment: Mr. Vipulkumar Vitthalbhai Patel — Additional Non-Executive Independent Director (w.e.f. 8 Sep 2026)
Resignation (noted): Ms. Varsha Aakesh Gulecha — Non-Executive Independent Director (effective 8 Sep 2026)
Stated Reason: Personal reasons (as per annexure)

Arcee Industries Limited (520121)
Regularisation (Independent Directors):
– Mr. Rohan Mehrotra — Independent Director (regularised; term 5 years from May 20, 2026; subject to shareholder approval)
– Mr. Amit Kumar — Independent Director (regularised; term 5 years from May 20, 2026; subject to shareholder approval)
Appointment: Mr. Amit Gupta — Additional Director (Non-Executive, Non-Independent) (w.e.f. 8 Sep 2026; subject to shareholder approval)

Mangalam Global Enterprise Limited (544273)
Appointment: Mr. Ramesh Kumar Agrawal — Additional Non-Executive Independent Director (w.e.f. 8 Sep 2026; term 5 years; subject to postal ballot approval)
Appointment: Ms. Purvi Jayendra Bhavsar — Additional Non-Executive Independent Director (w.e.f. 8 Sep 2026; term 5 years; subject to postal ballot approval)

Svarnim Trade Udyog Limited (539911)
– (Already captured above; includes multiple director cessations tied to AGM non-approval.)

G M Polyplast Limited (543239)
Re-appointment: Mr. Dinesh Balbeer Sharma — Managing Director & CFO (re-appointed; term Sep 7, 2026 to Sep 6, 2031; as per filing)

Arisinfra Solutions Limited (544419)
– (No board change in provided filing; only SMP resignation.)

Golkonda Aluminium Extrusions Limited (513309)
Board item: Ratification/recommendation of Secretarial Auditor (not a director change)

Aeroflex Enterprises Limited (511076)
Re-appointment: Mrs. Uma Manoj Mandavgane — Non-Executive Independent Woman Director (second term approved by members)
Effective Date: 31 May 2027 to 30 May 2032

Garware Technical Fibres Limited (509557)
Re-appointment (Independent Director): Dr. Shridhar Shrikrishna Rajpathak — Non-Executive Independent Director (second term; effective 12 Nov 2026)

Chandni Machines Limited (542627)
Appointment: Kishor Babubhai Vaidya — Additional Independent Director (w.e.f. 8 Sep 2026; as per board outcome)
Re-appointment: Richie Hiralal Amin — Independent Director (second term; effective 7 Nov 2026)

Zelio E-Mobility Limited (544563)
Re-appointment (MD): Mr. Kunal Arya — Managing Director (re-appointment subject to shareholder approval; board meeting held 7 Sep 2026)

Adon Agro Commodities Limited (544809)
Re-appointment: Mr. Narayanswamy Venkitkrishnan — re-appointment as MD (as per annexure context; subject to shareholder approval)

Digitide Solutions Limited (544413)
– (No board change in provided filing; only senior management updates.)


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

Svarnim Trade Udyog Limited (539911)
Clustered board exits: Two directors (Chairperson cum NED and Independent Director) ceased effective 7 Sep 2026 due to non-approval of requisite resolutions at the 44th AGM, followed by new director appointments effective 8 Sep 2026.

Coforge Limited (532541)
Governance-linked resignation: Chairperson & Independent Director resigned immediately after internal audit concerns regarding Board evaluation disclosures and Board follow-up.


5. Reappointments / Extensions (side notes; core roles only)

  • Garware Technical Fibres Limited (509557): Mr. V. R. Garware re-appointed as MD and designated “Chairman & MD” effective 1 Dec 2026.
  • Zelio E-Mobility Limited (544563): Mr. Kunal Arya re-appointment as Managing Director approved by Board (shareholder approval pending).
  • Aeroflex Enterprises Limited (511076): Mrs. Uma Manoj Mandavgane re-appointed as Non-Executive Independent Woman Director for second term 31 May 2027–30 May 2032 (member approval obtained).