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Management Changes

CFO churn: 3 resignations, 2 new appointments in 24 hours

July 26, 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 only)

Vedant Fashions Limited (NSE: MANYAVAR; BSE: 543463)

  • Change: Re-appointment
  • Person: Mr. Ravi Modi
  • Role: Chairman & Managing Director (Chairman and Managing Director)
  • Effective Date: Aug 28, 2026 (term from Aug 28, 2026 to Aug 27, 2031)
  • Context: Re-appointment approved by Board based on Nomination & Remuneration Committee recommendation; subject to shareholders’ approval.

Deepak Chemtex Limited (BSE: 544036)

  • Change: Re-appointment
  • Person: Mr. Saurabh Deepak Arora
  • Role: Chairman & Managing Director
  • Effective Date: Jul 28, 2026 (to Jul 27, 2029)
  • Context: Re-appointment approved by Board; subject to Members’ approval.

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

Dolphin Medical Services Limited (BSE: 526504)

  • Resignation: Mr. Vaishnavi Sharma
  • Role: Company Secretary cum Compliance Officer & Chief Financial Officer (CFO)
  • Effective Date: Accepted with effect from close of business hours on 24th July, 2026
  • Context: Board accepted resignation (reasons not stated beyond “resignation”).

Harikanta Overseas Limited (BSE: 544769)

  • Appointment: Mr. Abhishek Nileshkumar Gotawala
  • Role: Chief Financial Officer (CFO) (KMP), in addition to existing Whole-time Director role
  • Effective Date: Jul 25, 2026
  • Context: Board approved appointment (CFO responsibilities consolidated with financial leadership).

  • Resignation: Shafali Narendrakumar Jain

  • Role: Chief Financial Officer (CFO) (KMP)
  • Effective Date: close of business hours on Jul 25, 2026
  • Context: Resignation letter cites “better career prospects” (no other stated cause).

Surana Solar Limited (NSE: SURANASOL; BSE: 533298)

  • Appointment: Buvankar Shekarnath
  • Role: Chief Financial Officer (CFO) (KMP)
  • Effective Date: Jul 25, 2026
  • Context: Board appointed CFO; profile notes association with the Group for 30+ years.

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

Five-Star Business Finance Limited (NSE: FIVESTAR; BSE: 543663 / 974905 / 975246 / 975598)

  • Appointment: Mr. Sreeram Ranganathan Iyer (DIN: 00472961)
  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Jul 25, 2026
  • Context: First term of 5 years, subject to shareholders’ approval at ensuing AGM.

Billwin Industries Limited (BSE: as per filing; ticker not provided in text)

  • Appointment: Mr. Anand Kumar Jha (DIN: 09706572)
  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Jul 25, 2026
  • Context: Term of 5 years, subject to shareholders’ approval.

Zen Technologies Limited (NSE: ZENTEC; BSE: 533339)

  • Appointment: Mr. Jasthi Krishna Kishore (DIN: 08001625)
  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Jul 25, 2026
  • Context: 3 years, subject to shareholders’ approval.

  • Re-appointment (Whole-time Director): Mrs. Shilpa Choudari (DIN: 06646539)

  • Role: Whole-time Director
  • Effective Date: Nov 01, 2026
  • Context: 3 years, subject to shareholders’ approval.

Kati Patang Lifestyle Limited (BSE: 531126)

  • Change: Designation change
  • Person: Mr. Sanjay Kumar Jain (DIN: 01014176)
  • Role: From Non-Executive Independent Director → Non-Executive Non-Independent Director
  • Effective Date: Jul 25, 2026
  • Context: Board approved change; subject to shareholders’ approval.

Magnanimous Trade & Finance Limited (BSE: 512377)

  • Appointment: Mr. Darvin Maheshbhai Kiyada (DIN: 11849750)
  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Jul 25, 2026
  • Context: 5 years, subject to regulatory/statutory authorities and shareholders’ approval.

  • Appointment: Mr. Rushi Arvindbhai Savliya (DIN: 11847074)

  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Jul 25, 2026
  • Context: 5 years, subject to regulatory/statutory authorities and shareholders’ approval.

Super Bakers (India) Limited (BSE: 530735)

  • Appointment: Mr. Parth B. Thakkar (DIN: 10709057)
  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Sep 01, 2026
  • Context: Subject to shareholders’ approval at ensuing AGM.

  • Appointment: Ms. Rajkumari R. Udhwani (DIN: 02636225)

  • Role: Additional Director, Non-Executive Independent Director
  • Effective Date: Sep 01, 2026
  • Context: Subject to shareholders’ approval at ensuing AGM.

Foseco Crucible (India) Limited (BSE: 523160)

  • Appointment (by circulation):
  • Christopher Graham Lewis (DIN: 11847319) – Additional Director, Non-Executive, Non-Independent (effective Jul 25, 2026; till ensuing AGM)
  • Juliette Catherine Lowes (DIN: 11845679) – Additional Director, Non-Executive, Non-Independent (effective Jul 25, 2026; till ensuing AGM)
  • Sunil Kumar Chaturvedi (DIN: 02183147) – Additional Director, Non-Executive, Independent (effective Jul 25, 2026; till ensuing AGM)

  • Resignations (all effective Jul 24, 2026):

  • Henry Knowles (DIN: 08751453) – Non-Executive, Non-Independent
  • Mark Collis (DIN: 10054384) – Non-Executive, Non-Independent
  • Rashmi Joshi (DIN: 06641898) – Non-Executive, Independent
    • Stated reason (tight summary): “create more bandwidth… to focus on other projects and commitments” (no other material reasons stated beyond that).

Vedant Fashions Limited (NSE: MANYAVAR; BSE: 543463)

  • Re-appointment: Mr. Manish Mahendra Choksi (DIN: 00026496)
  • Role: Non-Executive Independent Director
  • Effective Date: Sep 06, 2026 (to Sep 05, 2031)
  • Context: Second term of 5 years, subject to shareholders’ approval.

4. Notable Company-Specific Situations

Harikanta Overseas Limited (BSE: 544769)

  • Simultaneous CFO transition:
  • CFO resignation accepted (Shafali Narendrakumar Jain) effective close of business hours Jul 25, 2026
  • CFO appointment approved (Abhishek Nileshkumar Gotawala) effective Jul 25, 2026
  • Indicates same-day handover/continuity planning (no further stated issues).

Foseco Crucible (India) Limited (BSE: 523160)

  • Clustered director exits: 3 directors resigned effective Jul 24, 2026 (Henry Knowles, Mark Collis, Rashmi Joshi), with three new directors appointed effective Jul 25, 2026.

5. Reappointments / Extensions (side notes)

Vedant Fashions Limited (NSE: MANYAVAR; BSE: 543463)

  • Re-appointment: Mrs. Shilpi Modi (DIN: 00361954) – Whole-time Director
  • Effective: Aug 28, 2026 to Aug 27, 2031 (subject to shareholders’ approval)

Five-Star Business Finance Limited (NSE: FIVESTAR; BSE: 543663 / 974905 / 975246 / 975598)

  • Extension: Mr. R. Vijayaraghavan
  • Role: Chief Compliance Officer
  • Tenure extended: 3 years w.e.f. Oct 1, 2026

Deepak Chemtex Limited (BSE: 544036)

  • Re-appointment: Mrs. Trishla Baid Arora (DIN: 07063446) – Whole-time Director
  • Effective: Jul 28, 2026 to Jul 27, 2029 (subject to Members’ approval)

Zen Technologies Limited (NSE: ZENTEC; BSE: 533339)

  • Re-appointment: Mrs. Shilpa Choudari (DIN: 06646539) – Whole-time Director
  • Effective: Nov 01, 2026 for 3 years (subject to shareholders’ approval)