TMT India Appoints New CMD, Executive Directors; Accepts MD Resignation
TMT India Ltd held a board meeting on August 14, 2026, approving un-audited financial results for the quarter ended June 30, 2026. Key decisions included the appointment of Mitesh Kothari as Chairman and Managing Director (Additional), Shakti Tiwari and Jigna Rajiv Shah as Executive Directors (Additional), and Rahul Visaria, Deepak Gandhi, and Pradeep Kumar as Additional Independent Directors. The company also approved establishing a corporate office in Mumbai. Notably, the board accepted the resignation of TUMSALAM GOOTY VEERA PRASAD as Managing Director and Director, effective post business hours on August 14, 2026, due to a change in control post Open Offer. Resignations of Independent Director SUNITHA MARKONDA and Director (Professional) BHIM SHANKARAM KANDA, effective August 20, 2026, were also accepted for similar reasons.
Key Highlights
- Board approved unaudited financial results for Q1 FY27.
- Mitesh Kothari appointed as Additional Chairman and MD.
- Multiple new directors appointed, including independent directors.
- Resignation of MD TUMSALAM GOOTY VEERA PRASAD accepted.
- Resignations of two other directors accepted post Open Offer.
Price Impact
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