Transformers and Rectifiers (India) Ltd (TARIL) announced significant changes in its Key Managerial Personnel following a Board Meeting on March 5, 2026. Mr. Chanchal S S Rajora resigned as Chief Financial Officer (CFO), effective the same day, though he remains Director (Finance) and Senior Management Personnel. Mr. Mehul Shah has been appointed as the new CFO, effective March 5, 2026.
Board Decision on Key Managerial Personnel
The Board of Directors of Transformers and Rectifiers (India) Ltd (TARIL) convened on Thursday, March 5, 2026, and approved key changes concerning the Chief Financial Officer role, which qualifies as a Key Managerial Personnel (KMP).
Resignation of Current CFO
The Board took on record the resignation of Mr. Chanchal S S Rajora from the position of Chief Financial Officer (KMP), effective March 5, 2026. The company confirmed there are no material reasons for this resignation. Mr. Rajora will continue his association with the company in his existing role as Director (Finance) and will remain designated as Senior Management Personnel.
Consequently, Mr. Rajora will cease to be the KMP authorized to handle material disclosures to the stock exchanges.
Appointment of New CFO
The Board approved the appointment of Mr. Mehul Shah as the new Chief Financial Officer (Key Managerial Personnel) of the Company, effective March 5, 2026. This appointment followed the recommendation of the Nomination and Remuneration Committee.
The Board expressed satisfaction with Mr. Shah’s qualifications to discharge the associated duties.
Profile of New CFO: Mr. Mehul Shah
Mr. Mehul Shah is a Chartered Accountant bringing over 26 years of experience in finance. His expertise spans Strategic Accounting, Financial Operations, Fund Management, Budgeting, Compliance, Taxation, and Corporate Governance. He has previously held roles in reputed organizations including Nirma Limited, Adani Enterprises Limited, Reliance Logistics Private Limited, Arvind Smart Spaces Limited, Gujarat Ambuja Exports Limited, and Asian Granito India Limited.
Resignation Letter Context
The document confirms that the resignation letter from Mr. Rajora, dated March 5, 2026, cited stepping down as CFO and Advisor to the Board to utilize this opportunity to dedicate his time entirely to his Board duties. He extended thanks to the Board for their support during his tenure.
Source: BSE
