Change in Directorate, KMP and Joint Statutory Auditors of Sanghi Industries
The Board of Sanghi Industries Limited has recently appointed additional directors to the company’s Board, effective December 7, 2023. Sukuru Ramarao has been appointed as the Executive Director, holding the positions of Whole-Time Director, Chief Executive Officer, and Key Managerial Personnel. In the category of Non-Executive Non-Independent Directors, Ajay Kapur assumes the role of Chairman and Non-Executive Non-Independent Director and Vinod Bahety takes on the post of Non-Executive Non-Independent Director. Furthermore, in the Independent Directors category, Shruti Shah and Ravi Kapoor have been appointed as Independent Directors. The term of both the Independent Directors will be for a period of 3 years from December 7, 2023, subject to the approval of shareholders of the Company.
The company’s Board of Directors has approved the appointment of Sanjay Kumar Khajanchi as the CFO and KMP, with effect from December 7, 2023. He replaced Bina Mahesh Engineer. Additionally, Manish Mistry has been appointed as the Company Secretary, Compliance Officer, and KMP, with effect from December 8, 2023, he replaced Anil Agarwal.
Ravi Sanghi has tendered his resignation from the post of Chairman and Managing Director, which was accepted by the Board of Sanghi Industries Limited. The company’s Executive Directors, Aditya Sanghi, Alok Sanghi, Bina Engineer and Nirubha Gohil, have tendered their resignations from the Board of Sanghi Industries Limited, which have been accepted by the Board with effect from December 7, 2023, due to the transfer of shareholding of certain members of the existing Promoters and Promoter Group in the Company to Ambuja Cements Limited, an Adani Group company, pursuant to the Share Purchase Agreement dated August 3, 2023, and the consequent cessation of control of existing promoters over the Company.
Independent Directors of the Company have tendered their resignations from the Board of the Company, which were accepted by the Board with effect from the closure of the Board on December 7, 2023: Sundaram Balasubramanian, Raina Dilip Desai, Arvind Motilal Agarwal, and Gurudeo M. Yadwadkar.
