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Management Changes

CFO reshuffle at Chemkart India: Basavaraj Dalawai exits

September 11, 2026 4 mins read Firehose Gupta

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

0. Critical Alerts (for-cause resignations)

No “for cause” resignations were explicitly stated in the provided filings.


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

Geetanjali Credit and Capital Limited (539486)

  • Change: Appointment
  • Person: Mr. Shreedhar Vasant Godbole
  • Role: Managing Director & Chief Financial Officer (CFO)
  • Effective Date: 10 September 2026 (subject to shareholder approval)
  • Context: Board appointment for a period of five years (10 Sep 2026–9 Sep 2031), pending shareholder approval.

Chemkart India Limited (544442)

  • Change: Resignation (CFO)
  • Person: Mr. Basavaraj Shankar Dalawai
  • Role: Chief Financial Officer (CFO)
  • Effective Date: Close of business hours, 10 September 2026
  • Context: Resigned “consequent upon internal restructuring and transition.”

  • Change: Appointment (CFO)

  • Person: Mr. Mohammad Asim Siddiqui
  • Role: Chief Financial Officer (CFO)
  • Effective Date: With effect from 11 September 2026 (board appointment dated 10 Sep 2026)
  • Context: Appointed by Board based on Audit Committee and Nomination & Remuneration Committee recommendations.

JITF Infralogistics Limited (540311)

  • Change: Appointment
  • Person: Ms. Shraddha RJ Prithvi
  • Role: Chairperson & Managing Director (CMD)
  • Effective Date: 10 September 2026 (subject to shareholder approval)
  • Context: Appointed for 5 years without remuneration.

Rita Finance and Leasing Limited (543256)

  • Change: Appointment
  • Person: Ms. Helly Raval Jayeshbhai
  • Role: Chief Executive Officer (CEO)
  • Effective Date: 10 September 2026
  • Context: Board approved appointment based on Nomination & Remuneration Committee recommendation.

SJVN Limited (533206)

  • Change: Extension of additional charge
  • Person: Shri Bhupender Gupta
  • Role: Chairman & Managing Director (CMD) – additional charge
  • Effective Date: Extended from 1 August 2026 (for 6 months or until further orders/regular incumbent assumes charge)
  • Context: Ministry of Power order dated 10 September 2026.

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

Endurance Technologies Limited (540153)

  • Appointment: Mr. Aditya Jhawar as Head – Growth and Business Transformation
  • Effective Date: 14 September 2026
  • Context: President grade; reporting to Managing Director; appointed as Senior Management Personnel.

REC Limited (RECLTD / 532955)

  • Appointment: Ms. Isha Duhan, IAS as Executive Director
  • Effective Date: 10 September 2026
  • Context: Appointment as part of senior management (one level below Board).

Orient Electric Limited (ORIENTELEC / 541301)

  • Appointment: Mr. Deepankar Bhattacharjee as Head – Internal Audit (designated Senior Management Personnel)
  • Effective Date: 10 September 2026
  • Context: Board resolution passed by circulation.

Pasupati Fincap Limited (511734)

  • Appointment: Mr. Sagar Singh Rawat as Company Secretary & Compliance Officer (KMP)
  • Effective Date: 10 September 2026
  • Context: Board approved appointment based on Nomination & Remuneration Committee recommendation.

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

Thomas Cook (India) Limited (500413)

  • Re-appointment: Mr. Sumit Maheshwari as Non-Executive Director liable to retire by rotation
  • Effective Date: Approved at AGM on 10 September 2026
  • Context: Shareholders approved re-appointment.

  • Non re-appointment: Mr. Chandran Ratnaswami as Non-Executive Director (retire-by-rotation not re-appointed)

  • Cessation Date: 10 September 2026
  • Context: Shareholders approved non re-appointment (did not seek re-appointment).

Punjab National Bank (PNB / 532461)

  • Appointment: Shri Divesh Sehara as Director (under Section 9(3)(b) of the 1970 Act)
  • Effective Date: Immediate effect from 10 September 2026 (until further orders)
  • Context: Nominated vice Shri D. Anandan, who ceased to be a director upon appointment.

Go Digit General Insurance Limited (GODIGIT / 544179)

  • Resignation: Mr. Giridhar Aramane as Independent Director
  • Effective Date: Close of business hours, 10 September 2026
  • Context: Resignation due to “increased responsibilities and time commitments” after appointment as Chairman & Managing Director of Unitech Limited.

John Cockerill India Limited (500147)

  • Resignation: Mr. Vivek Mukund Bhide as Non-Executive Non-Independent Director
  • Effective Date: Close of business hours, 15 September 2026
  • Context: Resigned due to “pre-occupation with other engagements.”

Key Corp Limited (507948)

  • Re-appointment: Mr. Ravindra Kumar Tandon as Non-Executive Independent Director
  • Effective Date: 9 June 2026
  • Term: Second term of 5 years (to 8 June 2031)
  • Context: Approved by members at EGM on 8 September 2026.

Hindustan Aeronautics Limited (HAL / 541154)

  • Appointment: Dr. Nikhil Agarwal as Additional Director (Part-Time Non-Official Independent)
  • Effective Date: 9 September 2026
  • Term: 3 years or until further orders (subject to shareholder approval)
  • Context: Appointment approved based on Ministry of Defence letter dated 9 September 2026.

RBZ Jewellers Limited (RBZJEWEL / 544060)

  • Re-appointment: Mr. Rajiv Nitin Mehta as Independent Director (Non-Executive Independent)
  • Effective Date: 30 June 2027
  • Term: Second term of 5 years (to 29 June 2032)
  • Context: Shareholders approved at AGM on 10 September 2026.

Gokul Refoils and Solvent Limited (GOKUL / 532980)

  • Cessation: Ms. Chetna Vyas as Independent Director
  • Effective Date: 9 September 2026
  • Context: Completion of second and final term.

Dhoot Industrial Finance Limited (526971)

  • Re-appointment: Mr. Rajgopal Ramdayal Dhoot as Director (liable to retire by rotation)
  • Effective Date: 10 September 2026
  • Context: Re-appointment due to retirement by rotation.

Shah Foods Limited (519031)

  • Resignation: Mr. Manan Rajesh Patel as Executive Director
  • Effective Date: Close of business hours, 7 September 2026
  • Context: Resignation “pursuant to the completion of the open offer process” (SEBI SAST).

Rose Merc Limited (512115)

  • Note: AGM proceedings filed; includes re-appointment resolutions for directors (no separate appointment outcome text provided in the filing content beyond AGM proceedings).

4. Notable Company-Specific Situations

Chemkart India Limited (544442)

  • Simultaneous CFO transition: CFO resignation (Basavaraj Shankar Dalawai) effective 10 Sep 2026 and new CFO appointment effective 11 Sep 2026.

Go Digit General Insurance Limited (544179)

  • Independent director stepping down due to new top role elsewhere: Giridhar Aramane resigned immediately upon taking Chairman & MD role at Unitech Limited.

5. Reappointments / Extensions (side notes)

SJVN Limited (533206)

  • Extension: Additional charge of CMD extended for 6 months from 1 August 2026 (or until regular incumbent assumes charge / further orders).

Thomas Cook (India) Limited (500413)

  • Re-appointment: Non-Executive Director Sumit Maheshwari re-appointed (retire-by-rotation).

Key Corp Limited (507948)

  • Re-appointment: Independent director Ravindra Kumar Tandon for second 5-year term.

RBZ Jewellers Limited (544060)

  • Re-appointment: Independent director Rajiv Nitin Mehta for second 5-year term (from 30 June 2027).

Dhoot Industrial Finance Limited (526971)

  • Re-appointment: Director Rajgopal Ramdayal Dhoot re-appointed (retire-by-rotation).