Gallantt Ispat Limited announced significant management changes following a Board meeting on March 31, 2026. The company accepted the resignations of the CFO, Mr. Sandip Kumar Agarwal (who transitions to CCO), Mr. Prashant Jalan (Whole-time Director), and Mr. Udit Agarwal (Independent Director). Simultaneously, the Board approved crucial appointments, including Mr. Pradyumna Kumar Satpathy as the new CFO, effective April 1, 2026, alongside the appointment of two new Additional Directors.
Board Meeting Outcome Summary (March 31, 2026)
The Board of Directors of Gallantt Ispat Limited convened on Tuesday, March 31, 2026, between 1:30 P.M. and 3:55 P.M., to approve several key business items, primarily revolving around management restructuring and appointments.
Resignation and Transition of Key Personnel
The Board formally took on record the resignations effective close of business hours on March 31, 2026, from the following executives:
- Mr. Sandip Kumar Agarwal: Resigned as Chief Financial Officer (CFO). He cited pre-occupation and personal obligations. It was noted that he will continue with the Company as Chief Commercial Officer (CCO) effective April 1, 2026.
- Mr. Prashant Jalan: Resigned as Whole-time Director. He will continue in the capacity of “Executive”.
- Mr. Udit Agarwal: Resigned as Independent Director, citing work pressure and lack of time.
Key Appointments Effective April 1, 2026
Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the following appointments effective April 1, 2026:
- Appointment of New CFO and KMP: Mr. Pradyumna Kumar Satpathy was appointed as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). Mr. Satpathy is a seasoned finance leader with over 28 years of expertise.
- Appointment of Additional Directors:
- Mr. Dindayal Jalan (DIN: 00006882) was appointed as an Additional Director and designated as “Vice Chairman” for a term of 5 years.
- Mr. Atul Kumar Gupta (DIN: 01734070) was appointed as an Additional Director (Non-Executive Independent) until the ensuing general meeting, subject to approval for a full 5-year term by members.
Reconstitution of Board Committees
Due to the resignation of Mr. Udit Agarwal, the composition of several key committees was reconstituted:
Audit Committee Reconstitution
The committee was reconstituted with the introduction of Mrs. Nishi Agrawal as a Member, replacing the outgoing director.
- New Composition: Mr. Ashtbhuja Prasad Srivastava (Chairman, Independent Director), Mr. Nitin Mahavir Prasad Kandoi (Member, Executive Director), Mr. Pankaj Khanna (Member, Independent Director), and Mrs. Nishi Agrawal (Member, Independent Director).
Nomination and Remuneration Committee Reconstitution
The committee saw a change in chairmanship:
- New Composition: Mr. Atul Kumar Gupta was introduced as the Chairman (Independent Director), replacing Mrs. Smita Modi, who will continue as a Member.
Stakeholders Relationship Committee Reconstitution
The chairmanship changed following the resignation:
- New Composition: Mr. Ashtbhuja Prasad Srivastava will now serve as the Chairman (Independent Director), taking over from Mr. Udit Agarwal. Mr. Pankaj Khanna was introduced as a Member.
Corporate Social Responsibility (CSR) Committee Reconstitution
This committee also saw a change in leadership:
- New Composition: Mr. Atul Kumar Gupta has been introduced as the Chairman (Independent Director).
Compliance Confirmation
The company confirmed that none of the Directors or KMPs are debarred from holding office based on any SEBI order or other authority. The requisite disclosures as mandated by the SEBI Master Circular dated November 11, 2024 (updated January 30, 2026) are enclosed as Annexure IV.
Source: BSE
