Aerpace Industries Limited announced significant changes to its Board of Directors following a meeting held on September 24, 2026. The company appointed retired IAS officer Giridhar Aramane as an Additional Non-Executive Director and engaged Air Vice Marshal Rajesh Bhandari as an Advisor to the Board. Simultaneously, the Board noted the resignation of Milan Bhupendra Shah as a Non-Executive Director due to pre-occupation.

Board Appointments and Advisory Role

The Board approved the appointment of Giridhar Aramane (DIN: 00483130) as an Additional Director in the category of Non-Executive Director with effect from September 24, 2026. This appointment is subject to shareholder approval. Aramane is a retired 1988-batch IAS officer who served as Defence Secretary of India from 2022 to 2024 and previously as Secretary of the Ministry of Road Transport & Highways. He holds a B.Tech in Civil Engineering, an M.Tech from IIT Madras, and an M.A. in Economics.

Additionally, the company appointed Rajesh Bhandari as a Member of the Advisory Board effective the same date. Bhandari is a retired Air Vice Marshal (VSM) who served at Air Headquarters and was appointed Assistant Chief of Air Staff in September 2023. His role is strictly advisory; he will not participate in decision-making or hold voting rights, focusing instead on providing independent guidance to strengthen governance.

Director Resignation

The Board took note of the resignation of Milan Bhupendra Shah (DIN: 08163535) from his position as Non-Executive Director. The resignation became effective at the close of business hours on September 24, 2026. In his letter, Shah cited pre-occupation in other activities as the sole reason for stepping down, confirming no other material reasons existed for his departure. He held no directorships in other listed entities.

Governance Changes Overview

What the Numbers Show

The simultaneous exit of one director and entry of two high-profile individuals with defence and administrative backgrounds signals a strategic pivot in Aerpace Industries' governance framework. The appointment of Aramane, with over 30 years of experience in defence and infrastructure, alongside Bhandari’s military expertise, suggests a potential focus on leveraging these sectors for future advisory guidance, although no specific business targets were disclosed in the filing.

Aerpace Industries has appointed Madhur Sanjay Jajoo as an additional director in the category of non-executive independent director. The appointment takes effect on September 9, 2026.

The Board of Directors approved the move during its meeting held on September 8, 2026. The appointment is subject to shareholder approval.

Appointment Details

Mr. Jajoo will serve a consecutive term of five years, from September 9, 2026, to September 8, 2031. He does not hold any shares in the company and is not related to any existing director as defined under Section 2(77) of the Companies Act, 2013.

Profile and Expertise

Mr. Jajoo is a qualified Chartered Accountant and an associate member of the Institute of Chartered Accountants of India (ICAI). He is a partner at SKMJ & Associates with approximately six years of professional experience.

His expertise spans accounting, financial governance, internal audit, and management consultancy. He possesses specialized experience in the healthcare sector and extensive exposure to the oil and gas industry, including city gas distribution. He advises clients on financial management, regulatory compliance, and internal controls.

The company confirmed that Mr. Jajoo is not debarred from holding the office of director pursuant to any SEBI order or order of any such authority.