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Management Changes

CFO Changes: Three Firms See October 7 Departures

October 8, 2026 4 mins read Firehose Gupta

Daily Management Change Report (Last 24 hours)

0. Critical Alerts (Highest Priority)

No “for cause” resignations (i.e., resignation reasons indicating governance/ethical/mismanagement or lack of information) were explicitly stated in the provided filings.


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

Bhagyanagar India Limited (BSE: 512296)

  • Change: Resignation/Cessation (CFO)
  • Person: Mr. Surendra Bhutoria
  • Role: Chief Financial Officer (CFO)
  • Effective Date: 7 October 2026
  • Context: Cessation “consequent upon transfer of his employment to Tieramet Limited.”

Rekvina Laboratories Ltd. (BSE: 526075)

  • Change: Appointment
  • Person: Mr. Subrata Samanta
  • Role: Chief Financial Officer (CFO)
  • Effective Date: 7 October 2026
  • Context: Board approved appointment as CFO & Key Managerial Personnel (KMP).

Nivaka Fashions Limited (BSE: 542206)

  • Change: Resignation/Cessation
  • Person: Mr. Mitesh Ajit Thakkar (DIN: 06994888)
  • Role: Chief Financial Officer (CFO) & Executive Director
  • Effective Date: 7 October 2026
  • Context: Resigned as CFO and Executive Director.

Sharpline Broadcast Limited (BSE: 543341)

  • Change: Resignation/Cessation
  • Person: Mr. Sanjeev Kumar Jha
  • Role: Chief Financial Officer (CFO) & KMP
  • Effective Date: 7 October 2026
  • Context: Resigned as CFO & KMP (reason stated as personal/unavoidable circumstances).

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

Larsen & Toubro Limited (BSE: 500510)

  • Appointment (promotion / categorization as SMP):
  • Dr. C Jayakumar — Senior Vice President & Head – Corporate Human Resources (effective 1 July 2026)
  • Mr. Suresh Kumar Narang — Senior Vice President & IC Head – CarbonLite Solutions IC & Chief Executive – LMB (effective 1 July 2026)
  • Mr. S Ramkumar — Senior Vice President & IC Head – Transportation Infrastructure IC (effective 1 July 2026)
  • Mr. Sriraman T — Senior Vice President & IC Head – Residential, Commercial Buildings & Factories IC (effective 1 July 2026)
  • Context: Promotions; filings state these officials are categorized under Senior Management Personnel (SMP).

Recode Studios Ltd. (BSE: 544755)

  • Appointment: Ms. Garima Bansal — Chief Marketing Officer (CMO) (effective 7 October 2026)
  • Context: Appointment as CMO & SMP.

SBI Funds Management Ltd. (BSE: 544829)

  • Appointment: Mr. Dhruva Agarwal — Head of Alternates (identified as SMP) (effective 7 October 2026)
  • Context: Identification as SMP consequent to appointment as Head of Alternates.

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

Chennai Petroleum Corporation Limited (BSE: 500110)

  • Appointment: Shri Ritesh Kumar Golchha (DIN: 02195963) — Non-Executive Independent Director
  • Effective Date: 7 October 2026
  • Context: Appointed as independent director (MoPNG letter referenced).

Desco Infratech Limited (BSE: 544387)

  • Re-appointment / Regularization: Mr. Shailesh Kalidas Naik (DIN: 06546482) — Non-Executive Independent Director
  • Effective Date / Term: Regularized w.e.f. 1 July 2026 for 5 years
  • Context: Regularization approved at adjourned 15th AGM held 7 October 2026.

Bharat Dynamics Limited (BSE: 541143)

  • Appointment: Dr. Jagannath Nayak — Part-Time Official Director (Government Director)
  • Effective Date: From date of allotment of DIN (DIN under process; approval conveyed 6 October 2026, received 7 October 2026)
  • Context: MoD approval for government nominee director.

Hindustan Aeronautics Limited (BSE: 541154)

  • Resignation/Cessation: Dr. K Rajalakshmi Menon (DIN: 10776165) — Government Nominee Director
  • Effective Date: 7 October 2026
  • Context: “Being nominee director, nomination was withdrawn by MoD.”
  • Appointment: Shri Anindya Biswas (DIN: 11987154) — Government Nominee Director
  • Effective Date: 7 October 2026 (until further orders of MoD)
  • Context: Appointed in place of the outgoing nominee director.

Life Insurance Corporation of India (BSE: 543526)

  • Appointments (Independent Directors), all effective: 7 October 2026 (term 4 years, subject to Members’ approval)
  • Shri Shailesh Kumar Singh (DIN: 02061623)
  • Shri David Paul Rasquinha (DIN: 01172654)
  • Shri Shyam Srinivasan (DIN: 02274773)
  • Shri Ganesh Kumar Sundara Iyer (DIN: 07635860)
  • Shri Gaurav Kumar (DIN: 07767248)
  • Context: Board approved appointments of multiple independent directors.

Batliboi Limited (BSE: 522004)

  • Appointment: Mr. Shankaran Rajaram Vignesh (DIN: 02803903) — Additional Director designated as Non-Executive Independent Director
  • Effective Date: 7 October 2026
  • Context: Appointment for 5 years, not liable to retire by rotation (subject to shareholder approval).

Mega Nirman & Industries Limited (BSE: 539767)

  • Appointment: Mr. Ishaan — Additional Director (Non-Executive, Non-Independent)
  • Effective Date: 7 October 2026 (subject to Members’ approval via postal ballot)
  • Context: Board approved additional director appointment; shareholder approval sought through postal ballot.

Global Vectra Helicorp Limited (BSE: 532773)

  • Resignation: Lt. Gen. Baldev Singh Pawar (Retd.) (DIN: 10305913) — Non-Executive Independent Director
  • Effective Date: 12 October 2026
  • Context: Resignation cited as “unavoidable and pressing family and personal commitments”; also ceases as Chairperson of Nomination & Remuneration Committee and member of Audit/Risk committees.

Heads Up Ventures Limited (BSE: 540210)

  • Resignation: Mr. Abhishek Shivpujan Giri (DIN: 10364515) — Non-Executive Independent Director
  • Effective Date: 7 October 2026
  • Context: Resignation (reason not detailed in the filing beyond confirmation of no other material reasons).

Sharpline Broadcast Limited (BSE: 543341)

  • Appointment: Mr. Ritesh (DIN: 11989490) — Additional Non-Executive Independent Director
  • Effective Date: 7 October 2026 (term 5 years, subject to shareholder approval)
  • Context: Board approved appointment based on NRC recommendation.

4. Notable Company-Specific Situations

Heads Up Ventures Limited (BSE: 540210)

  • Multiple simultaneous exits:
  • Company Secretary & Compliance Officer: Mrs. Dhruvi Patel — resigned w.e.f. 7 Oct 2026
  • Independent Director: Mr. Abhishek Shivpujan Giri — resigned w.e.f. 7 Oct 2026
  • Context: Both resignations effective the same date (7 October 2026).

5. Reappointments / Extensions (Side Notes)

No explicit reappointments/extensions of CEO/CFO/COO/Chairman/MD were stated in the provided filings.