Simandhar Impex Announces Major Board and Key Management Reshuffle Following Acquisition Transition

Simandhar Impex Announces Major Board and Key Management Reshuffle Following Acquisition Transition​

Simandhar Impex Ltd has announced significant changes in its leadership, with the Board of Directors approving multiple resignations and new appointments at a meeting held on June 30, 2026. The changes span key directorial roles and crucial managerial positions, following a change in control related to the company's acquisition.

The shake-up includes the resignation of several senior executives as part of the post-acquisition transition. Mr. Prashant Avantilal Vora resigned from his position as Managing Director and Key Managerial Personnel. Additionally, Mr. Harsh Prashant Vora stepped down as Chairperson and Non-Executive Non-Independent Director. Ms. Meghna Mahendra Savla resigned as a Non-Executive Independent Director. The company also saw the resignation of Ms. Saloni Abhishek Shah (Company Secretary and KMP) and Mr. Gaurav Baid (Chief Financial Officer and KMP), effective immediately after the Board meeting. All resignations were submitted consequent to the Share Purchase Agreement dated January 14, 2026, involving the existing Promoters and the Acquirers in connection with the acquisition of the company.

New Appointments and Key Leadership Hires​

Simandhar Impex appointed several new individuals to bolster its board and senior management team.

The appointment of additional directors—all subject to shareholder approval at the ensuing General Meeting—includes Mr. Chandraprakash Wadhwani, who joins as an Additional Non-Executive Non-Independent Director (Promoter Category) and Chairperson. Ms. Neha Hardeepsingh Narang was also appointed as an Additional Non-Executive Non-Independent Woman Director (Professional Category).

Two new Independent Directors were appointed: Mr. Gaurav Patel, appointed for a term of five consecutive years from June 30, 2026 to June 29, 2031, and Mr. Manish Tarachand Pandey. Both appointments are subject to shareholder approval.

In crucial executive management roles, the company appointed:

• Mr. Lalit Naresh Nagdev as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP). Mr. Nagdev was previously appointed as an Additional Executive Director on June 6, 2026, which requires regularization by shareholders.
• Mr. Amit Suresh Ninawe as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), who had been appointed as an Additional Executive Director on June 6, 2026.
• Ms. Ankita Wamanrao Hande was appointed as Company Secretary, Compliance Officer, and KMP.

Furthermore, M/s. Deepti Joshi & Associates, a firm of Practising Company Secretaries holding Peer Review Certificate No. 7929/2026, was appointed as the Secretarial Auditor for the Financial Year 2026-27.

Profiles of New Directors and Management​

The company provided detailed profiles for some of its new appointees:

• Mr. Chandraprakash Wadhwani is described as a Dubai-based Non-Resident Indian (NRI) entrepreneur, promoter, strategic shareholder, and associated with the Farmico Group. He has over two decades of experience across agro commodities, logistics, bullion, and international trade.
• Ms. Neha Hardeepsingh Narang brings over two decades of diversified experience in Human Resources and Talent Acquisition, having served as Head Human Resources & Talent Acquisition at the Farmico Group of Companies.
• Mr. Gaurav Patel is a finance and governance professional with over 13 years of experience, holding qualifications including Fellow Chartered Accountant and Certified Information Systems Auditor from ICAI. He serves as Senior Partner at GCV & Associates LLP.
• Mr. Manish Tarachand Pandey is a qualified Company Secretary and an Associate Member of ICSI with more than 10 years of professional experience in corporate laws and governance.

In addition, the company detailed the appointments of Ms. Ankita Wamanrao Hande as Company Secretary, who possesses over seven years of experience in secretarial functions, statutory compliance, and corporate governance, along with a LL.M. (Business Law).

Stock Price Movement​

As of 14:08, shares of Simandhar Impex Ltd are currently ticking down by 4.98%, trading at ₹132.50. The stock managed a narrow intraday movement, finding support between a low of ₹132.50 and an intra-day high of ₹133.00.