Uday Jewellery Industries Board Approves Key Leadership Appointments and Chennai Expansion
Uday Jewellery Industries Ltd held a Board of Directors meeting on April 22, 2026, where the board approved several significant appointments, management designation changes, and strategic operational steps, including the opening of a new branch office in Chennai.During the meeting, the board approved the minutes of the previous Board Meeting held on March 5, 2026, and reviewed the action taken report.
Management Appointments and Designations
The board approved several appointments and designation changes, subject to necessary shareholder approvals:- Mr. Sanjay Kumar Sanghi (DIN: 00629693) was appointed as Chairman and Managing Director (Corporate Affairs) for a period of five years, effective April 22, 2026.
- Mr. Ritesh Kumar Sanghi (00628033) saw a change in designation from Managing Director to Joint Managing Director (Operations), effective April 22, 2026.
- Mrs. Bhavna Sanghi was appointed as both an Additional Director and a Whole-Time Director for a period of five years, effective April 22, 2026.
- Ms. Donthineni Srilekha was appointed as Additional and Independent Director for five years, effective April 22, 2026.
The new appointments and role changes were detailed as follows:
| Name | Previous/New Role | Appointment Date | Term | Key Detail |
|---|---|---|---|---|
| Mr. Sanjay Kumar Sanghi | Chairman and Managing Director (Corporate Affairs) | 22.04.2026 | 5 years | Subject to shareholder approval. |
| Mr. Ritesh Kumar Sanghi | Joint Managing Director (Operations) | 22.04.2026 | N/A | Change from Managing Director. |
| Mrs. Bhavna Sanghi | Additional and Whole-Time Director | 22.04.2026 | 5 years | Subject to shareholder approval. |
| Ms. Donthineni Srilekha | Additional and Independent Director | 22.04.2026 | 5 years | Subject to shareholder approval. |
Corporate Governance and Operational Updates
In matters related to corporate governance and investor communication, the board approved seeking approval from members of the company through a Postal Ballot process or remote e-voting. For this process, May 8, 2026, was set as the Cutoff date for sending the postal ballot notice and determining e-voting entitlement.To ensure the process runs transparently, the board approved the appointment of Mr. Ajay Suman Shrivastava, Practicing Company Secretary (ICSI CP No. 3479), as the Scrutinizer for the Postal Ballot process. Furthermore, the board approved Central Depository Services (India) Limited to provide the remote e-voting facility.
Operationally, the board also approved the opening of a new Branch Office at 9th Floor, 39 Shop No.5, Prashanth Real Gold Tower, North Usman Road, T Nagar, Chennai, Tamil Nadu - 600017.
Stock Price Movement
Wednesday saw Uday Jewellery Industries Ltd settle at ₹164.00, gaining 2.60% on the day. Shares fluctuated throughout the session, testing a low near ₹159.90 before moving up within the ₹159.90 to ₹165.95 range.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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