Glittek Granites Completes Major Leadership Restructure; New Directors and CFO Appointed Amid Departures

Glittek Granites Completes Major Leadership Restructure; New Directors and CFO Appointed Amid Departures​

Glittek Granites Limited announced significant changes in its leadership structure following a Board meeting held on June 25, 2026. The company approved several key appointments of directors and managerial personnel, alongside noting the resignations of multiple senior executives and board members.

A number of new individuals were appointed to various director and Key Managerial Personnel (KMP) roles, subject to shareholder approval. These include Mr. Maheshkumar Jatashankar Thanki as an Additional Executive Director in the capacity of Chairperson and Whole-time Director, and Mr. Bhargav Girjashankar Thanki as an Additional Executive Director and Managing Director.

The company also appointed three additional directors: Dr. Deependra Singh as an Independent Director, Mr. Sunil Kumar Bansal as an Independent Director, and Mrs. Kavita Rakesh Shah as a Woman Independent Director. Furthermore, the Board approved the appointment of Mr. Gautam Thanki as the Chief Financial Officer, effective from June 25, 2026.

The appointed KMPs hold positions for a period of five years, with their terms running until June 24, 2031.

Key Management Appointments​

The following table details the newly appointed directors and KMP as approved by the Board:

Executive and Board Departures​

The company noted the resignations of several directors and KMP, effective from close of business hours on June 25, 2026. These departures include:

• Mr. Ashoke Agarwal as Managing Director.
• Mr. Tushar Agarwal as Managing Director.
• Mr. Siddhartha Agarwal as an Independent Director.
• Mr. Manish Killa as an Independent Director.
• Mrs. Malvika Sureka as an Independent Woman Director.
• Mr. Ashok Kumar Modi as Chief Financial Officer (CFO).

The resignations were noted in light of the change in management and control resulting from the completion of the open offer process by the acquirers.

Corporate Structural Changes Approved​

Beyond the personnel changes, the Board also approved several structural and operational matters, subject to regulatory approvals and shareholder consent. These approvals include:

• The alteration and substitution of the existing Main Objects Clause in the company's Memorandum of Association to align with proposed business activities and future plans.
• A potential change of name for the company from 'Glittek Granites Limited' to options such as 'Rawmin Neo Elements Limited,' 'Rawmin Resources Limited,' or 'Rawmin Neo Energy Limited.'
• The shifting of the registered office from Karnataka, specifically Bengaluru, to Maharashtra, and consequently altering the relevant clause in the Memorandum of Association.

Key Personnel Details​

Details regarding the appointed personnel include:

Mr. Maheshkumar Jatashankar Thanki is noted as a cousin brother of Mr. Bhargav Girjashankar Thanki and Mr. Bhavin Harihar Thanki. He has significant experience leading multi-million dollar international export contracts across mining, finance, and trade.

Mr. Bhargav Girjashankar Thanki boasts over 35 years of experience in mining, mineral products manufacturing, and international trade, focusing on Strategic Projects and Business Development. His vision aligns with sectors including Battery Energy Storage Systems (BESS) and Rare Earth Elements.

Mr. Bhavin Harihar Thanki is noted as a cousin brother to the two directors listed above. He possesses expertise in Mineral Processing, Logistics, and Export Supervision, having managed operations across various mining assets.

Dr. Deependra Singh brings over 35 years of leadership in India's Rare Earth Elements sector. As a former Chairman and Managing Director of IREL (India) Limited, he has driven self-reliance in strategic rare earths materials.

Mr. Sunil Kumar Bansal is a seasoned finance professional with qualifications including Chartered Accountant (CAIIB) and Registered Insolvency Professional, offering expertise in corporate finance and banking. Mrs. Kavita Rakesh Shah is a fellow member of the Institute of Chartered Accountants and possesses over 30 years of experience spanning capital markets transactions and investment banking.

Mr. Gautam Thanki has more than 15 years of experience in business administration and financial management, with exposure to domestic and international mineral trading.

Stock Price Movement​

Glittek Granites Ltd settled on Thursday at ₹39.69, ticking up 1.98% in the market. The shares navigated an intraday band that stretched from a low of ₹39.60 to close near their high point.