Gallantt Ispat Limited has announced a restructuring of its Board of Directors. Effective May 5, 2026, independent directors Mrs. Smita Modi and Mr. Pankaj Khanna have resigned from their positions due to personal pre-occupations. Simultaneously, the company has strengthened its board with the appointment of Mr. Sanjay Kumar Jain and Mr. Kishore Pariyar as Non-Executive Independent Directors for a two-year term, subject to shareholder approval.
Leadership Transition
The company confirmed that Mrs. Smita Modi and Mr. Pankaj Khanna formally resigned as Independent Directors at the close of business on May 5, 2026. Both directors cited heavy work pressure and other personal engagements as the primary reasons for their departure. The Board has acknowledged these resignations and confirmed that no other material reasons were involved in their decision to step down.
New Board Appointments
In a move to fill these vacancies, the Board has appointed Mr. Sanjay Kumar Jain and Mr. Kishore Pariyar as Non-Executive Independent Directors, effective May 5, 2026. Both appointments are for an initial term of two years, pending final approval from shareholders at the next General Meeting.
Director Profiles
Mr. Sanjay Kumar Jain, 55, brings over 33 years of experience to the board. He is a qualified Chartered Accountant, Cost Accountant, and legal professional with extensive expertise in corporate governance, finance, and regulatory compliance. His background is expected to provide significant value in navigating the company’s financial and legal strategy.
Mr. Kishore Pariyar, 62, is a distinguished former officer of the Reserve Bank of India (RBI). His tenure included serving as Chief General Manager and Regional Director, as well as holding the position of Banking Ombudsman for the North Eastern Region. His deep knowledge of institutional complexity and regulatory oversight is expected to bolster the board’s strategic advisory capabilities.
Source: BSE
