Gallantt Ispat Limited announced significant changes to its key management personnel and Board of Directors, effective March 31, 2026. Three key executives—the CFO, a Whole-time Director, and an Independent Director—resigned citing personal reasons. Concurrently, the Board approved the appointment of a new CFO, a new Whole-time Director (Vice Chairman), and a new Non-Executive Independent Director, all effective April 01, 2026.
Management Changes Effective March 31, 2026
The Board of Directors of Gallantt Ispat Limited, in its meeting on Tuesday, March 31, 2026, accepted several resignations, all effective at the close of business hours on that date. The departing personnel include:
- Mr. Sandip Kumar Agarwal, Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), citing pre-occupation and personal reasons.
- Mr. Prashant Jalan (DIN: 06619739), Whole-time Director, citing pre-occupation and personal reasons.
- Mr. Udit Agarwal (DIN: 07036864), Independent Director, citing heavy work pressure and lack of time.
All resigning members confirmed there were no other material reasons for their departures.
New Appointments Effective April 01, 2026
To fill the vacancies and restructure management, the Board approved several key appointments, all effective from April 01, 2026:
- Mr. Pradyumna Kumar Satpathy was appointed as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). He is a seasoned finance leader with over 28 years of expertise, including senior roles at JSW Steel and Bhushan Power and Steel Ltd.
- Mr. Dindayal Jalan (DIN: 00006882) was appointed as an Additional and Whole-time Director, designated as “Vice Chairman”. This appointment is for a term of five consecutive years, subject to shareholder approval. Mr. Jalan is a Chartered Accountant with significant experience, having served as Group CFO of Vedanta Resources Plc UK.
- Mr. Atul Kumar Gupta (DIN: 01734070) was appointed as an Additional Director, designated as a Non-Executive Independent Director for a term of five consecutive years. Mr. Gupta previously served as the Chief Secretary to the Government of Uttar Pradesh until March 31, 2011.
The company confirmed that none of the retiring or newly appointed Directors or KMPs are debarred from holding office.
Source: BSE
