Mahanagar Gas Limited (MGL) announced significant changes to its Board of Directors, effective March 01, 2026. Shri Sandeep Kumar Gupta ceases to be the Chairman and Director following the withdrawal of GAIL’s nomination. The Board simultaneously approved the appointment of Shri Deepak Gupta as a Non-Executive Non-Independent Additional Director and designated him as the new Chairman.
Key Changes in Directorate at MGL
Mahanagar Gas Limited has formally notified the stock exchanges regarding crucial changes within its Board composition. These changes are effective starting March 01, 2026, following official correspondence received on February 27, 2026.
Cessation of Chairman
Shri Sandeep Kumar Gupta (DIN: 07570165) will step down from his role as Director and Chairman of the Company. This cessation is a direct result of the nomination withdrawal by GAIL (India) Limited. The company acknowledged that MGL immensely benefitted from his contribution, guidance, and leadership during his tenure.
Appointment of New Chairman
The Board, acting upon the recommendations of the Nomination and Remuneration Committee, has approved the appointment of Shri Deepak Gupta (DIN: 09503339). Shri Deepak Gupta is appointed as an Additional Director in the category of Non-Executive Non-Independent Director. Furthermore, he has been designated as the new Chairman of the Company, effective March 01, 2026, pending shareholder approval.
Profile of the New Chairman
Shri Deepak Gupta brings extensive experience to the role. He is a distinguished Mechanical Engineer from Delhi College of Engineering (now DTU) and possesses over 35 years of rich and multifaceted experience in the Oil & Gas sector. He holds a certified Project Management Professional (PMP®) from PMI, USA.
His professional background includes significant leadership roles, involving execution of large-scale, complex projects from concept to commissioning. Notably, Shri Gupta played a pivotal role in leading the implementation of the ₹19 billion 650 KBPSD Dangote Refinery and Petrochemical Complex in Nigeria, which is the world’s largest single-train greenfield refinery. He also spearheaded the delivery of the HMEL Bhatinda Refinery Project, one of India’s largest petrochemical installations, significantly contributing to India’s energy diplomacy.
Compliance Details
The details furnished regarding both the cessation and the new appointment comply with the required schedules concerning director disclosures. It is confirmed that Shri Deepak Gupta is not debarred from holding the office of a Director by virtue of any SEBI Order or any other relevant authority.
Source: BSE
