AYM Syntex has accepted the resignation of Rasik Chauhan, who served as President and Plant Head-Palghar, effective from the close of business hours on August 7, 2026. The company disclosed that Chauhan tendered his resignation due to personal reasons, marking a leadership change in its senior management personnel structure.

The disclosure was made pursuant to Regulation 30 read with Para A, Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which mandates specific disclosures regarding changes in senior management personnel.

Resignation Details

According to the filing submitted to the Bombay Stock Exchange and the National Stock Exchange of India Limited, Chauhan’s cessation of employment is immediate as of the specified date. The company confirmed that there are no relationships between directors requiring disclosure in this context, as this is a resignation rather than an appointment.

Kaushal Patvi, Company Secretary and Compliance Officer of AYM Syntex, signed the communication to the exchanges. In his resignation letter addressed to Chairman Rajesh Mandawewala, Chauhan thanked the management for the support extended during his tenure and wished the company success in future endeavors.

What This Means for Stakeholders

The departure of a senior executive such as the President and Plant Head may require interim operational adjustments at the Palghar facility until a successor is appointed. However, the company did not disclose any immediate plans for replacement or transitional arrangements in this filing. Investors should monitor subsequent announcements for updates on the appointment of new senior management personnel.

AYM Syntex has appointed Vireshwar Joshi as President and Unit Head-Palghar, effective August 6, 2026. The company disclosed the appointment of this Senior Management Personnel to the Bombay Stock Exchange and the National Stock Exchange of India under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This leadership addition aims to bolster operational oversight at its Palghar unit, leveraging Joshi’s extensive background in manufacturing operations and performance improvement within the textile sector.

The disclosure was made pursuant to Regulation 30 read with Para A, Part A of Schedule III of the SEBI Listing Regulations. Additionally, the company complied with the disclosures required under SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Kaushal Patvi, Company Secretary and Compliance Officer, signed the filing on behalf of the company on August 6, 2026.

Leadership Profile and Experience

Vireshwar Joshi brings over 34 years of leadership experience across Indian and international markets to AYM Syntex. His expertise spans spinning, knitting, weaving, dyeing, and processing garments, home textiles, and technical textiles. Joshi has demonstrated capabilities in operational excellence, customer satisfaction, safety, people development, and sustainable business growth through various senior positions including CEO, President, Business Head, and Unit Head.

Prior to joining AYM Syntex, Joshi worked with TEX/BTC/STB Africa. He previously held leadership roles at Shahi Exports and RSWM Ltd. His academic qualifications include a B.Tech in Textile Engineering from M.S. University of Baroda, an MBA in Marketing & Finance from NIM, Mumbai, and a DCA from I.S.T. Institute, Ahmedabad.

Appointment Details

The following table outlines the key details of the appointment as per the regulatory filing:

The appointment does not involve any relationships with existing directors that require disclosure under the relevant regulations. The Board has recorded the appointment to align with the company’s strategic goals for operational efficiency and growth in its textile manufacturing divisions.