Gallantt Ispat Limited Gallantt Ispat has appointed Amit Jalan as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective July 27, 2026. The Board of Directors approved the appointment during a meeting held on July 27, 2026, acting on the recommendation of the Nomination and Remuneration Committee. This leadership change strengthens the company’s financial management structure, with Jalan transitioning from his previous role as Chief Accounts Officer to lead the finance function full-time.

The appointment is made pursuant to Section 203 of the Companies Act, 2013, and Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures were filed under Regulation 30 of the SEBI LODR Regulations, 2015, read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (updated as on January 30, 2026). The Board’s decision aligns with statutory requirements for appointing key managerial personnel, ensuring robust governance for operations across its Gorakhpur and Gujarat units.

Appointment Details and Profile

Amit Jalan will serve in a full-time capacity starting from the effective date of his joining. His extensive background includes expertise in end-to-end finance management, cost control, audit, budgeting, forecasting, and profitability analysis. Additionally, he possesses significant skills in credit and stock control, Management Information Systems (MIS) reporting, costing, training, and internal risk assessment. He is also skilled in driving strategic initiatives and optimizing financial performance while ensuring statutory compliance across all functions.

Strategic Context

Jalan’s promotion reflects the company’s strategy to leverage internal talent for senior financial roles. He brings over 25 years of experience in finance management, corporate planning, and IND-AS accounting, having been associated with Gallantt Ispat since its incorporation. The transition coincides with the firm’s recent audit restructuring, where M/s. Singhi & Co. was appointed as Statutory Auditor to fill a casual vacancy left by Maroti & Associates.

Gallantt Ispat Limited appointed Mr. Amit Jalan as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 27, 2026, while simultaneously replacing its statutory auditor to ensure continuity in financial oversight. The Board of Directors approved these changes at a meeting held on July 27, 2026, marking a significant leadership transition for the company’s finance function and audit governance. This move addresses the resignation of outgoing auditors M/s. Maroti & Associates due to resource constraints and complexity issues, while elevating an internal finance leader to the CFO role.

Mr. Amit Jalan, who has been associated with Gallantt Ispat since its incorporation, currently serves as the Chief Accounts Officer (CAO). With over 25 years of experience in end-to-end finance management, corporate planning, and cost control, he brings deep expertise in Ind AS accounting, budgeting, forecasting, and internal audit. His promotion to CFO strengthens the company’s financial leadership with someone intimately familiar with its operations and regulatory environment. The Board noted that his extensive background in profitability analysis, credit control, and statutory compliance makes him well-suited for the role.

Auditor Transition Details

The company accepted the resignation of M/s. Maroti & Associates, Chartered Accountants (FRN: 322770E), as statutory auditors. Maroti & Associates had served for five years, from Financial Year 2022-23 to Financial Year 2026-27, having been appointed at the AGM on September 29, 2022. They completed the statutory audit for the financial year ended March 31, 2026, issuing their report on May 5, 2026. In their resignation letter dated July 21, 2026, they cited increased scale and complexity of the audit, along with firm resource allocation and professional commitments, as reasons for discontinuing the engagement. They confirmed no disputes with management or suppression of information.

To fill the resulting casual vacancy, the Board appointed M/s. Singhi & Co., Chartered Accountants (FRN: 302049E), as the new statutory auditors. Singhi & Co., ranked among India’s seventh-largest assurance and advisory firms with an 85-year legacy, will hold office until the ensuing Annual General Meeting (AGM), where shareholders must ratify the appointment. The firm offers expertise in risk-based audits, Ind AS compliance, tax strategy, and global market support.

Regulatory Compliance

The disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (updated as on January 30, 2026). Maroti & Associates committed to filing form ADT-3 with the Registrar of Companies as required by the Companies Act, 2013. The Audit Committee confirmed that the reasons cited in the resignation letter aligned with their understanding and that no other material issues existed. The transition ensures uninterrupted statutory oversight while addressing the operational challenges faced by the outgoing firm.