Phoenix Overseas Appoints New Managing Director; Seals Partnership with L.B. Jha & Co. LLP as Statutory Auditor
Phoenix Overseas Limited has made significant appointments following a recent Board meeting held on July 21, 2026. The company approved the appointment of Mr. Aparesh Nandi as its new Managing Director and appointed M/s. L.B. Jha & Co. LLP to serve as the Statutory Auditors for the financial year 2026-27.The Board meeting commenced at 02:00 Hrs and concluded by 03:00 Hrs, finalizing these key corporate changes.
Aparesh Nandi Appointed Managing Director
Mr. Aparesh Nandi has been appointed as the company's Managing Director for a term of five years, effective from July 21, 2026, until July 20, 2031. The appointment follows the expiry of tenure of the previous director.Mr. Nandi is identified as both the MD and a Promoter of Phoenix Overseas Limited. He brings over 25 years of experience in Merchant Export Business and possesses more than 40 years of experience across the food processing and preservation industry, as well as the railway infrastructure business. His background involves providing strategic direction, formulating business policies, driving growth initiatives, and ensuring the company's financial sustainability through effective planning and resource mobilization.
Key details regarding the appointment are summarized below:
| Particular | Details |
|---|---|
| Name of Managing Director | Aparesh Nandi |
| Date of Appointment | July 21, 2026 |
| Term of Appointment | Five Years (until July 20, 2031) |
| Reason for Change | Expiry of Tenure |
M/s. L.B. Jha & Co. LLP Appointed Statutory Auditors
The company also appointed M/s. L.B. Jha & Co. LLP as the Statutory Auditors for the financial year 2026-27. The appointment was made on the recommendation of the Audit Committee.This change in auditors follows the resignation of the previous firm, M/s. Jain Seth & Co., due to the poor health of a partner within that practice. M/s. L.B. Jha & Co. LLP has been appointed for a period of one year, effective from the conclusion of the forthcoming Annual General Meeting until the next Annual General Meeting in 2027.
M/s. L.B. Jha & Co. LLP is an established reputed audit firm with offices located in Kolkata, Mumbai, and Delhi, having been operational since 1934. The firm holds ISO 9001:2015 certification and has extensive experience conducting statutory audits for listed companies and large corporate groups across various industries.
The key details of the appointed auditors are provided in the table below:
| Particulars | Details |
|---|---|
| Name of Statutory Auditor | M/s. L.B. Jha & Co. LLP, Chartered Accountants (FRN: 301088E) |
| Reason for Change | Resignation of previous auditor due to partner's poor health |
| Appointment Duration | One Year (till the next Annual General Meeting in 2027) |
PHOGLOBAL Stock Price Movement
Phoenix Overseas Limited shares today gained 0.32% in post-market trading, settling at approximately ₹15.50 following a modest uptick. The stock saw a traded volume of 6,000 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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