PG Electroplast Limited announced significant changes at its wholly-owned subsidiary, Next Generation Manufacturers Private Limited (NGM). The NGM board has appointed Mrs. Ruchika Bansal as a Non-Executive Independent Director for a five-year term. Additionally, the subsidiary has appointed M/s. B S R & Co. LLP as its new Statutory Auditors for a term of five years, succeeding M/s. M.S. Barmecha & Co. These changes align the subsidiary’s governance and audit functions with the parent company’s structure.
Key Appointments at NGM Subsidiary
PG Electroplast Limited has disclosed important developments concerning its wholly-owned step-down subsidiary, Next Generation Manufacturers Private Limited (NGM). These updates, made pursuant to SEBI Listing Regulations, include changes to the subsidiary’s board of directors and its statutory auditors.
New Independent Director Appointed
The Board of Directors of NGM has approved the appointment of Mrs. Ruchika Bansal as a Non-Executive Independent Director. This appointment is effective from October 24, 2026, and she will serve a term of five years. Mrs. Bansal brings over 23 years of experience as a Management Consultant, specializing in wealth advisory, investment banking, and private equity.
Statutory Auditor Changes
In a move to consolidate its subsidiary auditors with those of the parent company, NGM has appointed M/s. B S R & Co. LLP as its new Statutory Auditors. This appointment is for a term of five years, subject to shareholder approval. They will succeed M/s. M.S. Barmecha & Co., whose resignation was noted by the Board. PG Electroplast expressed appreciation for the services rendered by the outgoing auditors.
Alignment of Audit Functions
The decision to appoint B S R & Co. LLP, a firm with extensive experience and a strong network, aims to align the audit functions across the group. This strategic alignment is expected to enhance efficiency and consistency in financial reporting across NGM and its parent company.
Source: BSE
