Management Change8 Oct 2026, 07:10 pm
Bhagyanagar India Appoints Promoter Director, Accepts Executive Director Resignation
AI Summary
Bhagyanagar India Ltd announced the appointment of Shri Mangilal Narender Surana as an Additional Director (Non-Executive Non-Independent Promoter) effective October 8, 2026, subject to member approval. The Board also accepted the resignation of Mr. Venkateswara Rao Nukala as Executive Director. Additionally, the company noted the apportionment of cost of acquisition of equity shares under a Composite Scheme of Arrangement, sanctioned by NCLT, with 89.36% allocated to Tieramet Limited and 10.64% to Bhagyanagar India Limited.
Key Highlights
- Shri Mangilal Narender Surana appointed as Additional Director.
- Mr. Venkateswara Rao Nukala resigned as Executive Director.
- Board noted cost of acquisition apportionment post-scheme.
- Scheme sanctioned by NCLT Hyderabad Bench on September 7, 2026.
Price Impact
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