OK Play India Limited promoter Raghav Handa has created a pledge on 40,00,000 equity shares, representing 1.10% of the company's total share capital. The disclosure was filed with the BSE on October 1, 2026, citing the creation of the pledge as collateral for loans taken by the company.

The encumbrance was established in favor of Krchoksey Financial Services Pvt. Ltd. The transaction occurred on September 29, 2026. Following this event, the total number of shares held by Raghav Handa that are currently encumbered stands at 90,00,000, which accounts for 2.48% of the total share capital.

Promoter shareholding and encumbrance details

The filing provides a comprehensive view of the promoter group's holdings. While Raghav Handa is the sole entity reporting a new encumbrance event, the disclosure lists the current status of other promoters within the group. Notably, Rajan Handa holds the largest stake among the promoters but has a significant portion already encumbered.

What the numbers show

A comparison of promoter holdings reveals a high concentration of encumbered assets within the primary promoter family. Rajan Handa, who holds 23.66% of the company, has 21.20% of the total share capital already encumbered. This indicates that nearly 89.6% of his personal stake is pledged. In contrast, Raghav Handa’s post-event encumbered holding of 2.48% represents approximately 35.9% of his total 6.90% holding. This divergence suggests differing levels of leverage or collateral requirements across individual members of the promoter group, despite their collective control over the entity.

Ok Play India Ltd announced significant changes to its Board of Directors effective October 1, 2026. The company accepted the resignations of Mamta Handa as Whole-Time Director and Vikas Kumar Pathak as Independent Director. Concurrently, the Board approved the re-appointment of Dr. Rajan Wadhera as Whole-Time Director for a three-year term.

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting to approve these changes commenced at 5:00 pm and concluded at 5:45 pm on the same date.

Director Departures

Mamta Handa (DIN: 00238019), who served as Whole-Time Director, resigned citing other commitments. Her resignation was tendered via letter dated October 1, 2026, and became effective from the closing hours of that day. The disclosure notes her relationship as the wife of Mr. Rajan Handa, Promoter Director. She held 1,00,00,000 equity shares in the company at the time of cessation.

Vikas Kumar Pathak (DIN: 08707272), an Independent Director, also resigned effective October 1, 2026, due to pre-occupation and other professional commitments. His letter of resignation confirmed no other material reasons for his departure. He held no equity shares in the company.

Re-appointment Details

Dr. Rajan Wadhera (DIN: 01412577) has been re-appointed as Whole-Time Director for a period of three years, commencing October 1, 2026, and ending September 30, 2029. This appointment is subject to the approval of members at the ensuing General Meeting. Dr. Wadhera holds 363,000 equity shares and has a PhD in Human Resources with extensive experience in HR management functions.

What the Numbers Show

The simultaneous exit of a promoter-linked Whole-Time Director and an Independent Director on the same day indicates a coordinated governance reset rather than isolated departures. While Mamta Handa’s resignation is attributed to personal commitments, her substantial shareholding of 1 crore shares contrasts sharply with the zero holdings of the outgoing Independent Director and the modest 363,000 shares held by the re-appointed Dr. Wadhera. This disparity highlights the continued influence of promoter-linked entities in the boardroom composition despite the formal change in directorship roles.