Morarjee Textiles Appoints New Directors Following Approval of Resolution Plan

Morarjee Textiles Appoints New Directors Following Approval of Resolution Plan​

Morarjee Textiles Ltd has appointed several individuals to its Board of Directors following the approval of its Resolution Plan by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. The appointments, which became effective on June 4, 2026, include experienced leaders from various sectors, bolstering the company's strategic direction as it moves forward under the approved plan.

The appointments were made in accordance with the terms of the Approved Resolution Plan, which was granted by the NCLT following the Insolvency and Bankruptcy Code (IBC) proceedings.

Board Appointments and Profiles​

Three individuals have been appointed to the Board of Directors: Mr. Govind Gopaldas Rathi, Mr. Pravin Ratanlal Jain, and Mr. Sandeep Ramesh Joshi. All three were appointed as Non-Executive Directors.

The appointments mark a key step in the implementation phase of the Resolution Plan. Below are detailed profiles for the newly appointed directors.

Mr. Govind Gopal Rathi (Non-Executive Director)
Mr. Rathi, aged 45, is a Commerce graduate with over 20 years of extensive experience spanning the cotton and textile and allied industries. His background includes transforming a family business from a modest readymade garments shop and cotton trading enterprise into a diversified group encompassing ginning and pressing units, oil mills, and spinning units. He gained significant expertise in the technical, commercial, and operational aspects of the cotton and textile industry through experience working with industrial units in Hinganghat and Wardha.

Mr. Pravin Ratanlalji Jain (Non-Executive Director)
Mr. Jain is identified as a first-generation entrepreneur who has built a diversified business group across Real Estate & Infrastructure, Industrial Manufacturing, Information Technology & E-Governance, and Trading & Industrial Products. His journey began in 2002 with Aiwa Weigh Instruments (India) Pvt. Ltd. He has demonstrated expertise in business structuring and strategic diversification.

A snapshot of Mr. Jain's operational ventures includes:

Mr. Jain's associated companies also include Kirtisagar IT Services Pvt Ltd, which provides E-Governance Solutions, IT & ITeS Services, Data Center Solutions, Smart City Projects, and System Integration Services. Garuda Amusements Park (Nagpur) Pvt. Ltd., under his purview, holds a BOT project awarded by the Government of Maharashtra for developing Ambazari Garden, Nagpur.

Mr. Sandeep Ramesh Joshi (Non-Executive Director)
Mr. Joshi, who is 45 years old and a Commerce Graduate, possesses extensive experience in business management and industrial operations. He has been associated with the company for ten years, acquiring significant knowledge of its activities and operations. His expertise includes compliance with the Factories Act, 1948, ensuring statutory requirements pertaining to occupational health, safety, and welfare measures in factory operations.

Compliance and Governance​

The appointment of these directors is stated to be in compliance with the Approved Resolution Plan and relevant provisions of the Insolvency and Bankruptcy Code (IBC) and the Companies Act, 2013. Necessary filings regarding the appointments have also been undertaken.

MORARJEE Stock Price Movement​

Morarjee Textiles Limited rallied sharply on Friday as shares closed at ₹7.50, gaining 4.75% in the market session. The stock completed the day with a volume of 5,715 shares traded.