Iykot Hitech Toolroom Ltd Updates Board Composition with Key Appointments and Director Resignations

Iykot Hitech Toolroom Ltd Updates Board Composition with Key Appointments and Director Resignations​

Iykot Hitech Toolroom Ltd has undertaken significant changes in its board structure following a meeting held on July 21, 2026. The company announced the appointment of three new Additional Directors while simultaneously taking note of several resignations from Non-Executive Independent Directors. The Board meeting also concluded with the reconstitution of various directorial committees.

The company welcomed Mr. Vaibhav Agarwal and Mr. Rajesh Chunilal Bhojani as additional directors, alongside the appointment of Mr. Arjun Bikas Dutta to the board. This move brings new expertise across financial services and compliance to the management team.

Appointments of Additional Directors​

Mr. Vaibhav Agarwal was appointed as an Additional Director (Non-Executive - Independent Category) on July 21, 2026. His profile includes a background as a qualified Chartered Accountant and a seasoned professional with over 23 years of experience in strategy, business development, risk management, and client servicing within the banking and financial services sector.

Mr. Rajesh Chunilal Bhojani was appointed as an Additional Director (Non-Executive - Independent Category) on July 21, 2026. Mr. Bhojani holds a Master's in Management Studies from Mumbai University (NMIMS) and has over 41 years of experience across various roles at institutions including UTI Mutual Fund and Aditya Birla Sun Life Insurance and AMC.

Mr. Arjun Bikas Dutta was also appointed as an Additional Director (Non-Executive - Independent Category). Mr. Dutta brings over 35 years of distinguished experience in the banking and financial services sector, having held leadership positions at the Reserve Bank of India (RBI) and HDB Financial Services. His expertise lies in corporate governance, enterprise risk management, and regulatory compliance.

Resignations from the Board​

The company also acknowledged the resignation of several independent directors. Mr. Suresh Rajasekar resigned as a Non-Executive Independent Director due to personal reasons on July 21, 2026. Similarly, Mr. Syed Munnawar Hussain tendered his resignation as a Non-Executive Independent Director effective from the close of business hours on July 21, 2026, citing personal reasons. Additionally, the company took note of the resignation of Mr. Velli Paramasivam as a Non-Executive Independent Director.

Reconstitution of Board Committees​

The board's operational structure was updated to reflect these changes, leading to the reconstitution of several key committees. The assignments are detailed below:

Committee Memberships​

Audit Committee:

Nomination and Remuneration Committee:

Stakeholders Relationship Committee:

Rights Issue Committee:

Stock Price Movement​

Iykot Hitech Toolroom Ltd settled at ₹21.11 on Monday, posting 0.00% change. The shares were locked completely flat throughout the session, with both the high and low remaining exactly at ₹21.11.