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.

Gallantt Ispat has accepted the resignation of Pradyumna Kumar Satpathy as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from the close of business hours on August 15, 2026. Satpathy cited pre-occupation and other personal obligations as the reasons for his departure, confirming there are no other material reasons for stepping down. The transition impacts the company's compliance framework under Section 203 of the Companies Act 2013 and Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically regarding the determination of materiality for disclosures.

The resignation was intimated to the stock exchanges pursuant to Regulation 30 and Part A of Schedule III of the SEBI LODR Regulations. In his resignation letter, Satpathy requested the Board of Directors to relieve him of his duties and complete all necessary statutory and regulatory formalities, including filings with the Registrar of Companies and stock exchanges. He declared that he stands relieved from his duties and obligations on behalf of the company from the effective date.

Resignation Details

The company provided specific details regarding the event in its regulatory filing. The following table outlines the key information concerning the cessation of the CFO's role:

The disclosure was submitted by Nitesh Kumar, Company Secretary of Gallantt Ispat Limited. The company's registered office is located at Gorakhpur Industrial Development Authority (GIDA), Sahjanwa, Gorakhpur, Uttar Pradesh.