JMG Corp Sees Board Reconstitution, MD Resignation Post Takeover

JMG Corporation Ltd's Board of Directors, following a successful takeover, approved significant management changes on April 27, 2026. Atul Kumar Mishra resigned as Chairman and Managing Director, along with several other directors and key managerial personnel. Neerav Bairagi was appointed as an Additional Director and subsequently as the new Managing Director, subject to shareholder approval. Maya Bairagi, Rahul Singh Jadaun, and Yashasvi Prateek were appointed as Additional Directors, and Manprakash Verma as the Chief Financial Officer. Additionally, the Board approved the termination of a Joint Development Agreement with AR Challenges Ltd., Israel, for an MSW to Power Project, citing prolonged Force Majeure conditions due to geopolitical instability. This termination is not expected to have a material financial impact on the company.