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Management Changes

LIC Housing Finance CEO succession and CFO reshuffle

August 29, 2026 5 mins read Firehose Gupta

Daily Management Changes Report (Last 24 hours)

0. Critical Alerts (for-cause resignations)

  • None found in the provided filings (no resignation “for cause” with governance/ethical/mismanagement-type reasons).

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

LIC Housing Finance Limited (LICHSGFIN / 500253)

  • Change: Resignation/Cessation (CEO & KMP)
  • Person: Shri T. Adhikari (DIN: 10229197)
  • Role: Managing Director & Chief Executive Officer (CEO)
  • Effective Date: Close of business hours, 28 Aug 2026
  • Context: Cessation “pursuant to his superannuation from the services of LIC of India.”

  • Change: Appointment (subject to shareholder approval)

  • Person: Shri Sandeep Kumar (DIN: 11239285)
  • Role: Managing Director & Chief Executive Officer (CEO) (Additional Director & KMP)
  • Effective Date: 29 Aug 2026
  • Context: Appointed “until which he remains deputed… as a nominee director of LIC of India,” with maximum period up to 5 years; shareholder approval to be obtained within 3 months.

Asian Tea & Exports Limited (011053)

  • Change: Resignation/Stepping down (MD)
  • Person: Mr. Hariram Garg (DIN: 00216053)
  • Role: Managing Director
  • Effective Date: 28 Sep 2026
  • Context:health-related issues” (voluntary stepping down); continuation as Chairman & Non-Executive Director thereafter.

  • Change: Appointment

  • Person: Mr. Sunil Garg (DIN: 00216155)
  • Role: Managing Director
  • Effective Date: 28 Sep 2026
  • Context: Appointment for 5 years (to 27 Sep 2031), subject to member approval.

  • Change: Resignation (CFO)

  • Person: Mr. Rajesh Garg (PAN: ADSPG1810D)
  • Role: Chief Financial Officer
  • Effective Date: 07 Sep 2026
  • Context: Resignation effective 07 Sep 2026 (reasons stated in resignation letter; filing confirms no “material reasons” beyond stated letter).

  • Change: Appointment (CFO)

  • Person: Mr. Raunak Garg (PAN: ARGPG1729H)
  • Role: Chief Financial Officer
  • Effective Date: 07 Sep 2026
  • Context: Appointment effective 07 Sep 2026.

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

White Hall Commercial Company Limited (—)

  • Appointment: Grishma Vishal Dhedhia as Chief Financial Officer (CFO)28 Aug 2026
  • Resignation: Vishal Dhedhia as Chief Financial Officer (CFO)28 Aug 2026
  • Context: CFO transition noted in board outcome; both resignation and appointment dated 28 Aug 2026.

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

Popular Vehicles and Services Limited (PVSL / 544144)

  • Appointment: Paul Francis Kuttukaran (DIN: 11727635) — Non-Executive Non-Independent Director
  • Effective Date: 28 Aug 2026
  • Context: To ensure continued representation of promoter families after cessation of Francis Kuttukaran Paul as director effective 31 Mar 2026.
  • Re-appointment: John K. Paul (DIN: 00016513) — Director (retires by rotation)
  • Effective Date: 28 Aug 2026 (AGM approval)

Welspun Specialty Solutions Limited (500365)

  • Appointment: Anil Kumar Jha (DIN: 03590871) — Additional Director (Non-Executive Independent)
  • Effective Date: 28 Aug 2026
  • Context: First term of 4 years (to 27 Aug 2030), subject to member approval.

LIC Housing Finance Limited (LICHSGFIN / 500253)

  • Appointment: Sandeep Kumar (DIN: 11239285) — Additional Director (also MD & CEO)
  • Effective Date: 28 Aug 2026 approval; effective 29 Aug 2026
  • Context: Appointment as Additional Director in capacity of MD & CEO; shareholder approval within 3 months.

Jindal Leasefin Limited (539947)

  • Resignation/Cessation: Sachin Kharkia (DIN: 00884999) — Non-Executive Independent Director
  • Effective Date: Close of business hours, 28 Aug 2026
  • Context: Completion of second and final term.
  • Appointment: Asha Hardikkumar Sukhadiya (DIN: 11721706) — Non-Executive Independent Director
  • Effective Date: 29 Aug 2026
  • Context: 5 years, subject to member approval.

Mish Designs Limited (544015)

  • Re-appointment: Anita Bhartia (DIN: 09338148) — Non-Executive Non-Independent Director
  • Effective Date: Board approval on 26 Aug 2026; re-appointment details indicate May 2, 2026 as appointment date in annexure
  • Context: Re-appointment subject to shareholder approval.

Star Health and Allied Insurance Company Limited (STARHEALTH / 543412)

  • Appointment: Utpal Hemendra Sheth (DIN: 00081012) — Non-Executive Nominee Director (representing Sitara Partners LLP)
  • Effective Date: 28 Aug 2026
  • Context: Approved by members via Special Resolution; not liable to retire by rotation.

Zeal Aqua Limited (ZEAL / 539963)

  • Re-appointment/Continuation: Shantilal Ishwarlal Patel (DIN: 01362109) — Whole-Time Director
  • Effective Date: Approved at AGM on 28 Aug 2026; continuation notwithstanding age 70
  • Context: Special Resolution approving continuation after attaining age 70 (age 70 date referenced as 31 Aug 2026).

Radaan Mediaworks India Limited (RADAAN / 590070)

  • Resignation (committee): Rayane Radikaa (Annexure A) — resignation leading to reconstitution of Nomination & Remuneration Committee
  • Effective Date: Board meeting outcome dated 28 Aug 2026 (committee reconstitution)
  • Appointment: Rahhul SarathAdditional Director (Executive)
  • Effective Date: 1 Sep 2026 (up to next general meeting; board recommends Executive/Whole-time appointment for 3 years subject to shareholders)
  • Appointment: M. UmaAdditional Director (Independent)
  • Effective Date: 1 Sep 2026 (recommended for 5 years subject to shareholders)

Hemisphere Properties India Limited (HEMIPROP / 543242)

  • Appointment: Amit Kumar Agarwal (DIN: 05333909) — Independent Director
  • Effective Date: 27 Aug 2026
  • Context: MoHUA office order dated 27 Aug 2026; term 3 years from notification date or until further orders.

TVS Motor Company Limited (TVSMOTOR / 532343)

  • Appointment: Peyman Kargar (DIN: 07906077) — Director & CEO (Whole-time Director)
  • Effective Date: 27 Jan 2027
  • Context: Appointment for 5 years; board approval on 28 Aug 2026.
  • Change in designation (CEO transition): K. N. Radhakrishnan (DIN: 02599393)
  • Effective Date: continues as Director & CEO until 27 Jan 2027, then becomes Non-Executive Director up to AGM (July 2027).

Real Growth Corporation Limited (RGCORP / 539691)

  • Resignation: Sagar Agarwal (DIN: 10746605) — Independent Director
  • Effective Date: Close of business hours, 27 Aug 2026
  • Context: Resignation “due to his personal reasons” (no other material reasons stated).

White Hall Commercial Company Limited (—)

  • Resignation: Nilesh Krishnarao Savant (DIN: 09440936) — Director
  • Effective Date: 28 Aug 2026
  • Context: Resignation due to “other professional commitments.”

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

White Hall Commercial Company Limited

  • Simultaneous CFO transition: Vishal Dhedhia resigned as CFO and Grishma Vishal Dhedhia appointed as CFO, both effective 28 Aug 2026.
  • Also: Director resignation (Nilesh Krishnarao Savant) recorded in the same board outcome.

Asian Tea & Exports Limited

  • Coordinated top-team reshuffle effective early/mid-Sep 2026:
  • MD stepping down (Hariram Garg) effective 28 Sep 2026
  • MD appointment (Sunil Garg) effective 28 Sep 2026
  • CFO resignation (Rajesh Garg) and CFO appointment (Raunak Garg) both effective 07 Sep 2026

LIC Housing Finance Limited

  • CEO transition announced within the same day’s filings:
  • CEO cessation due to superannuation (28 Aug 2026)
  • CEO appointment effective 29 Aug 2026 (subject to shareholder approval)

5. Reappointments / Extensions (side notes)

Popular Vehicles and Services Limited

  • John K. Paul re-appointed as Director (retires by rotation) — AGM approval 28 Aug 2026.

Mish Designs Limited

  • Anita Bhartia re-appointed as Non-Executive Non-Independent Director (subject to shareholder approval).

Zeal Aqua Limited

  • Shantilal Ishwarlal Patel continuation as Whole-Time Director after attaining age 70 — approved via Special Resolution at 28 Aug 2026 AGM.

Asian Tea & Exports Limited

  • Akhil Kumar Manglik re-appointed as Non-Executive Independent Director for 5 years (from 06 Sep 2026 to 05 Sep 2031, subject to member approval).