NewsBharatam Ventures Limited Executive Managing Director Ritesh Vakil Resigns Due to Change in ControlBharatam Ventures Limited Executive Managing Director Ritesh Vakil Resigns Due to Change in Control
Bharatam Ventures Limited announced the resignation of Executive Managing Director Ritesh Vijay Vakil, effective March 28, 2026, following a board meeting held on the same date. Mr. Vakil cited change in company control as the reason for his departure, with no other material reasons mentioned. The company has completed all regulatory disclosures under SEBI Listing Regulations and communicated the resignation to relevant authorities and stock exchanges.
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Bharatam Ventures Limited (formerly known as pet plastics Limited) has announced the resignation of its Executive Managing Director, Mr. Ritesh Vijay Vakil, effective from March 28, 2026. The resignation was formally communicated to BSE Limited following a board meeting held on the same date.
Board Meeting Details
The Board of Directors convened on March 28, 2026, with the meeting commencing at 01:00 PM and concluding at 08:00 PM. The primary agenda item was to take note of the resignation of Mr. Ritesh Vijay Vakil from his position as Executive Managing Director.
| Meeting Details: | Information |
|---|---|
| Date: | March 28, 2026 |
| Start Time: | 01:00 PM |
| End Time: | 08:00 PM |
| Primary Agenda: | Resignation of Executive Managing Director |
Executive Director Resignation
Mr. Ritesh Vijay Vakil, holding Director Identification Number (DIN) 00153325, submitted his resignation from the Board of Directors with immediate effect from the close of business hours on March 28, 2026. In his resignation letter, Mr. Vakil clearly stated that his decision to step down was due to a change in control of the company.
| Resignation Details: | Information |
|---|---|
| Director Name: | Mr. Ritesh Vijay Vakil |
| DIN: | 00153325 |
| Position: | Executive Director, Managing Director |
| Effective Date: | March 28, 2026 (close of business hours) |
| Reason: | Change in control of the Company |
Regulatory Compliance
The company has ensured full compliance with regulatory requirements by providing comprehensive disclosures under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure includes all necessary information as mandated by SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155.
Mr. Vakil expressed his gratitude to the Board for their support and guidance during his tenure as Managing Director. The resignation letter has been forwarded to the concerned Registrar of Companies and stock exchanges where the company's equity shares are listed.
Company Information
Bharatam Ventures Limited, formerly known as Pet Plastics Limited, is headquartered at Signature Business Park in Chembur, Mumbai. The company operates under CIN L66190MH1985PLC037217 and maintains its listing on BSE with scrip code 524046 under the symbol PETPLST.
The resignation represents a significant leadership change for the company, with Mr. Abhinath Shinde continuing in his role as Managing Director with DIN 07076684. The company has indicated that the resignation is solely attributed to the change in control circumstances, with no other material reasons cited for the departure.
Who is the new controlling entity that triggered Mr. Vakil's resignation and what are their strategic plans for Bharatam Ventures?
How will the leadership transition impact the company's operational strategy and financial performance in the coming quarters?
What changes in business direction or corporate governance can shareholders expect under the new control structure?
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