Simandhar Impex Completes Major Board Restructuring with Multiple Director and KMP Changes

Simandhar Impex Completes Major Board Restructuring with Multiple Director and KMP Changes​

Simandhar Impex Limited held its Board meeting on June 30, 2026, approving sweeping changes across its leadership structure. The board accepted several senior resignations resulting from a change in control and management of the company, simultaneously appointing key executives and new independent directors to strengthen governance.

The company saw multiple executive and directorial departures as part of the organizational shift. Directors who resigned included Mr. Harsh Prashant Vora (Chairman & Non-Executive Non-Independent Director), Mr. Prashant Avantilal Vora (Managing Director and Key Managerial Personnel), Mr. Tejas Devendra Shah (Non-Executive Independent), and Ms. Meghna Mahendra Savla (Non-Executive Independent Director).

Key managerial personnel who tendered their resignations included Mr. Gaurav Baid, Chief Financial Officer (CFO), and Ms. Saloni Abhishek Shah, Company Secretary. These changes were attributed to the change in control and management of Simandhar Impex Limited.

New Leadership Appointments​

The Board approved several key appointments designed to reinforce the company’s operational and strategic leadership. Mr. Lalit Naresh Nagdev (DIN: 11709670), an existing Executive Director, was appointed as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP). Similarly, Mr. Amit Suresh Ninawe (DIN: 11707767), also an Executive Director, was appointed as Chief Financial Officer (CFO) and KMP.

To enhance its directorial base, the Board approved the appointment of several new individuals, subject to shareholder approval. Mr. Chandraprakash Wadhwani (DIN: 00300084) was appointed as an Additional Non-Executive Director (Non-Independent) and Chairperson. Ms. Neha Hardeepsingh Narang (DIN: 11666521) was also approved as an Additional Non-Executive Woman Director.

Furthermore, the appointment of two new independent directors was confirmed: Mr. Gaurav Patel (DIN: 08889698) and Mr Manish Tarachand Pandey (DIN: 08712019), who are both designated as Additional Non-Executive Independent Directors. Ms. Ankita Wamanrao Hande (Mem. No. A57574) was appointed as Company Secretary, Compliance Officer and KMP.

Governance and Audit Committee Changes​

The board also approved the reconstitution of critical company committees, including the Audit Committee, the Nomination and Remuneration Committee, and the Stakeholders' Relationship Committee.

In line with regulatory requirements, M/s Deepti Joshi & Associates was appointed as the Secretarial Auditor for the Financial Year 2026-27. The Board also took note of both the Internal Audit Report and the Secretarial Audit Report for the financial year ended March 31, 2026.

Beneficial Interest Declaration​

The Board noted a declaration from Mr. Chandraprakash Wadhwani regarding his beneficial interest in the company's equity. He declared a beneficial interest in 2,81,615 equity shares of the Company, which have a face value of INR 10/- each and represent 74.64% of the paid-up equity share capital. The Board noted that Mr. Wadhwani does not hold any equity shares directly but holds the beneficial interest through M/s Farmico International Private Limited.

Stock Price Movement​

As of 13:55, Simandhar Impex Ltd shares are dipping by 4.98%, trading at ₹132.50. The stock has seen intraday volatility, ranging between a low of ₹132.50 and a high of ₹133.00.