JMG Corp sees board overhaul post-takeover, JDA terminated

JMG Corporation Ltd's Board of Directors met on April 27, 2026, to announce significant management changes following a successful takeover. Mr. Neerav Bairagi was appointed as an Additional Director and subsequently as Managing Director, alongside Ms. Maya Bairagi as an Additional Director, and Mr. Rahul Singh Jadaun and Mr. Yashasvi Prateek as Independent Directors. Mr. Manprakash Verma was appointed as the new Chief Financial Officer. Concurrently, Mr. Atul Kumar Mishra (Chairman & MD), Mrs. Anita Mishra (Director), Mr. Subodh Kumar (Director), and Independent Directors Mr. Satish Charan Kumar Patne, Mr. Vivek Bansal, and Mr. Neeraj Jain resigned. The previous CFO, Mr. Sonu Kumar Varshney, and Company Secretary, Ms. Nisha Kumari, also stepped down. Additionally, the Board approved the termination of a Joint Development Agreement (JDA) with AR Challenges Ltd., Israel, for an MSW to Power Project due to prolonged Force Majeure conditions arising from geopolitical instability. This termination is not expected to have a material financial impact on the company.