Mahanagar Gas Limited (MGL) announced significant changes to its Board of Directors effective March 01, 2026. Shri Sandeep Kumar Gupta will cease to be the Chairman and Director following the withdrawal of GAIL’s nomination. Concurrently, the Board approved the appointment of Shri Deepak Gupta as the new Non-Executive Non-Independent Director, who will also assume the role of Chairman.
Leadership Transition at MGL
Mahanagar Gas Limited has formally notified the exchanges regarding key changes in its Board composition, effective from March 01, 2026. These changes involve both the cessation of a key incumbent and the appointment of a new leader.
Cessation of Chairman
Shri Sandeep Kumar Gupta (DIN: 07570165) will step down as the Chairman and Director of the Company on March 01, 2026. This cessation is pursuant to the withdrawal of the nomination letter issued by GAIL (India) Limited dated February 27, 2026. The Company acknowledged the significant contribution, guidance, and leadership provided by Shri Sandeep Kumar Gupta during his tenure.
Appointment of New Chairman
The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, has approved the appointment of Shri Deepak Gupta (DIN: 09503339). He will join the Board as an Additional Director in the category of Non-Executive Non-Independent Director. Furthermore, Shri Deepak Gupta is designated as the Chairman of the Company, effective from March 01, 2026, until further orders from GAIL and subject to requisite shareholder approval.
Profile of New Chairman, Shri Deepak Gupta
Shri Deepak Gupta is a distinguished Mechanical Engineer from Delhi College of Engineering (now DTU) bringing 35 years of rich and multifaceted experience in the Oil & Gas sector. He is a certified Project Management Professional (PMP®) from PMI, USA.
- His expertise spans Project Management, Construction Management, and Business Development across the hydrocarbon value chain.
- Shri Gupta has led the execution of large-scale, complex projects across various models, including EPC (LSTK), EPCM, OBE, and PMC.
- He played a pivotal role in implementing the $19 billion, 650 KBPSD Dangote Refinery and Petrochemical Complex in Nigeria, noted as the world’s largest single-train greenfield refinery.
- He also led the delivery of the HMEL Bhatinda Polymer Project in India and the first greenfield refinery project in Mongolia.
The disclosure confirms that Shri Deepak Gupta is not related to any of the existing Directors of the Company and is not debarred from holding office by virtue of any SEBI Order or other authority.
The requisite details concerning the cessation and appointment, as required under Schedule III of the Listing Regulations, have been submitted as detailed annexures to this disclosure.
Source: BSE
