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Management Changes

CFO, MD and Chairman appointments across seven BSE firms

August 13, 2026 5 mins read Firehose Gupta

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

0. Critical Alerts (for-cause resignations)

No “for cause” resignations were found in the provided filings (i.e., no resignation reasons indicating governance/ethics/mismanagement concerns).


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

Shalimar Paints Limited (SHALPAINTS / 509874)

  • Change: Appointment
  • Person: Mr. Kundan Sangwar
  • Role: CFO
  • Effective Date: 12 Aug 2026
  • Context: Board approved appointment as Chief Financial Officer (KMP).

Bata India Limited (BATAINDIA / 500043)

  • Change: Appointment (AGM approval)
  • Person: Mr. Sanjay S. Rao
  • Role: Managing Director (MD)
  • Effective Date: 1 Oct 2026 (term 1 Oct 2026 to 23 Aug 2031)
  • Context: AGM approved appointment as MD (not liable to retire by rotation).

Orient Bell Limited (ORIENTBELL / 530365)

  • Change: Re-appointment (AGM approval)
  • Person: Mr. Mahendra K. Daga
  • Role: Chairman & Whole-Time Director
  • Effective Date: 1 Apr 2027 to 31 Mar 2030
  • Context: AGM approved further term of three years.

Hexagon Nutrition Limited (HEXAGON / 544785)

  • Change: Appointment
  • Person: Mr. Raghunath Sawant
  • Role: Additional Executive Director (not CEO/CFO/COO/Chairman/MD)
  • Effective Date: 12 Aug 2026
  • Context: Board appointed as Additional Executive Director (excluded from “Key Leadership” scope, but noted here only because it appears alongside MD/Chairman items in the filing).

  • Change: Re-appointment (recommended/subject to members approval)

  • Person: Mr. Arun Purushottam Kelkar
  • Role: Chairman & Director
  • Effective Date: 28 Sep 2026 (as per filing annexure)
  • Context: Board recommended re-appointment; subject to shareholder approval.

Religare Enterprises Limited (RELIGARE / 532915)

  • Change: Re-designation
  • Person: Mr. Arjun Lamba
  • Role: Managing Director (MD) (earlier Executive Director / WTD)
  • Effective Date: 12 Aug 2026
  • Context: Board approved re-designation as MD on same terms and conditions (subject to shareholders’ approval).

Berger Paints (India) Limited (BERGEPAINT / 509480)

  • Change: Re-appointment (AGM approval)
  • Person: Mr. Abhijit Roy
  • Role: Managing Director & CEO
  • Effective Date: 1 Jul 2027 to 30 Jun 2031
  • Context: AGM approved re-appointment for 4 years post current term.

Variman Global Enterprises Limited (540570)

  • Change: Re-appointment
  • Person: Mr. Sirish Dayata
  • Role: Managing Director (MD)
  • Effective Date: 1 Oct 2026 (term 3 years)
  • Context: Board approved re-appointment (subject to approvals as per annexure).

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

No qualifying senior executive appointments/resignations (below CEO/CFO/COO) were clearly specified in the provided set, except where roles were outside the requested scope (e.g., “Internal Auditor”, “Chief Growth Officer” is below CEO/CFO/COO but is not consistently captured as a “senior executive” in the same way across filings—see Board/Director section instead if needed).


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

Universus Photo Imagings Limited (UNIVPHOTO / 542933)

  • Appointment (Board): Re-appointment
  • Person: Mr. Sanjeev Aggarwal
  • Role: Independent Director (Non-Executive)
  • Effective Date: 13 Nov 2026 – 12 Nov 2031 (subject to members approval)
  • Context: Second term of 5 consecutive years approved by Board.

Svarnim Trade Udyog Limited (SVARNIM / 539911)

  • Appointment: Ms. Nidhi Bansal
  • Role: Additional Non-Executive Independent Director
  • Effective Date: 12 Aug 2026 (subject to shareholders’ approval)
  • Resignation: Mr. Manish Shrichand Bachani
  • Role: Non-executive Independent Director
  • Effective Date: 12 Aug 2026 (resignation effective at close of business hours)
  • Context: Resignation stated as “personal reason”.

Universus Photo Imagings Limited (UNIVPHOTO / 542933)

  • (Already covered above under Board changes.)

Orient Bell Limited (ORIENTBELL / 530365)

  • Re-appointment: Mr. K.M. Pai
  • Role: Non-Executive Independent Director (second & final term)
  • Effective Date: 1 Apr 2027 – 31 Mar 2032
  • Re-appointment: Ms. Bindiya Shyam Agrawal
  • Role: Non-Executive Non-Independent Director
  • Effective Date: 28 Oct 2026 – 27 Oct 2027
  • Appointment: Mr. Sreeji Kamala Gopinathhan
  • Role: Non-Executive Independent Director
  • Effective Date: 19 May 2026 – 18 May 2029 (first term; not liable to retire by rotation)

Svarnim Trade Udyog Limited (SVARNIM / 539911)

  • (Already covered above under Board changes.)

Chandrima Mercantiles Limited (CHANDRIMA / 540829)

  • Resignation: Mr. Parin Shirishkumar Bhavsar
  • Role: Non-Executive Independent Director
  • Effective Date: 12 Aug 2026
  • Context: Resignation reason stated as “pre-occupancy”.
  • Appointment: Ms. Neha Singhal
  • Role: Additional Non-Executive Independent Director
  • Effective Date: 12 Aug 2026

Swadeshi Industries and Leasing Ltd (506863)

  • Appointment: Mr. Rajeev Ranjan Sarkari
  • Role: Additional Independent Director
  • Effective Date: 12 Aug 2026 (term until next AGM / last date of AGM, whichever earlier)

Maestros Electronics & Telecommunications Systems Limited (538401)

  • Re-appointment: Mr. Prakash Vithal Page
  • Role: Independent Director
  • Effective Date: 5 Feb 2027 (subject to members approval)
  • Context: Re-appointment for 5 years.

Equippp Social Impact Technologies Limited (EQUIPPP / 590057)

  • Re-appointment: Dr. Narendra Mairpady
  • Role: Independent Director
  • Effective Date: 5 Nov 2026 – 4 Nov 2031 (subject to shareholders’ approval)
  • Appointment: Mr. Vegendla Srinivasa Rao
  • Role: Non-Executive Non-Independent Director
  • Effective Date: 12 Aug 2026 (subject to shareholders’ approval)

SoftTech Engineers Limited (SOFTTECH / 543470)

  • Re-appointment: Dr. Rakesh Kumar Singh
  • Role: Independent Director
  • Effective Date: Effective from Aug 12, 2027 – Aug 11, 2032 (subject to shareholders’ approval at AGM)
  • Appointment (senior management, not a director): Mr. Rahul Gambhir as Chief Growth Officer (excluded from “Board/Director” but appears in the filing)

Shree Pushkar Chemicals & Fertilisers Limited (SHREEPUSHK / 539334)

  • Resignation: Mr. Ramakant Madhav Nayak
  • Role: Non-Executive Non-Independent Director
  • Effective Date: 13 Aug 2026 (close of business hours)
  • Context: “due to advancing age”
  • Appointment: Mr. Raghav Punit Makharia
  • Role: Additional Non-Executive Non-Independent Director
  • Effective Date: 13 Aug 2026 (until ensuing AGM / last date of AGM, whichever earlier)
  • Also: Board recommended appointment as Non-Executive Non-Independent Director at ensuing AGM.

Axita Cotton Limited (AXITA / 542285)

  • Re-appointment: Mr. Vinod Kanubhai Rana
  • Role: Independent Director
  • Effective Date: 22 Feb 2027 – 21 Feb 2032 (subject to shareholders’ approval)

Svarnim Trade Udyog Limited (SVARNIM / 539911)

  • (Already covered above.)

Hexagon Nutrition Limited (HEXAGON / 544785)

  • (Chairman re-appointment is covered under Key Leadership; no separate independent/NED changes were clearly specified beyond that.)

4. Notable Company-Specific Situations

Svarnim Trade Udyog Limited (SVARNIM / 539911)

  • Clustered board changes on same date:
  • Independent director resignation (Manish Shrichand Bachani) effective 12 Aug 2026
  • Independent director appointment (Nidhi Bansal) effective 12 Aug 2026
  • Audit/NRC reconstitution also effective 12 Aug 2026.

Chandrima Mercantiles Limited (CHANDRIMA / 540829)

  • Board reshuffle on same date: resignation of one independent director and appointment of another, both effective 12 Aug 2026, along with committee reconstitutions.

5. Reappointments / Extensions (Side Notes)

Orient Bell Limited (ORIENTBELL / 530365)

  • Re-appointments approved at AGM: Chairman & WTD (Mahendra K. Daga), Independent (K.M. Pai), Non-Independent (Bindiya Shyam Agrawal); plus Independent (Sreeji Kamala Gopinathhan) term confirmation.

Berger Paints (India) Limited (BERGEPAINT / 509480)

  • MD & CEO (Abhijit Roy) re-appointed for 4 years from 1 Jul 2027.

Universus Photo Imagings Limited (UNIVPHOTO / 542933)

  • Independent Director (Sanjeev Aggarwal) re-appointed for second term (5 years) subject to members approval.

Axita Cotton Limited (AXITA / 542285)

  • Independent Director (Vinod Kanubhai Rana) re-appointed for second term (5 years) subject to members approval.

Equippp Social Impact Technologies Limited (EQUIPPP / 590057)

  • Independent Director (Dr. Narendra Mairpady) re-appointed for 5 years subject to shareholders’ approval.
  • Whole-time director (Mrs. Vindhya Dronamraju) re-appointment also approved (not in Key Leadership scope but relevant for governance continuity).

If you want, I can also produce a separate annexure listing statutory auditor/internal auditor changes (these were frequent in the filings) while keeping the leadership/board sections strictly per your rules.