Pankaj Polymers Limited has accepted the resignations of six directors and its Chief Financial Officer, effective June 19, 2026, following a significant change in the company's management structure. The departures include Managing Director Mr. Pankaj Goel and Joint Managing Director Mr. Paras Goel, alongside four other board members. The overhaul also involved the re-designation of a Whole-Time Director to a Non-Executive role and the appointment of a new internal auditor.

The Board of Directors approved the resignations during a meeting held on June 19, 2026. In addition to the Managing Director and Joint Managing Director, the board accepted the resignations of Mrs. Bhavani Gajula as Non-Executive Director, and Mr. Devesh Gupta and Mr. Ashutosh Gupta as Independent Directors. Mr. P. Hari Krishna also resigned from his position as Chief Financial Officer and Key Managerial Personnel.

All departing officials cited a change in management as the reason for their resignations. In their resignation letters, the directors confirmed there were no material reasons for their departure other than the stated management change and no pending claims, dues, or obligations. The independent directors specifically confirmed there were no concerns relating to the company's management, operations, policies, or compliance matters that prompted their resignations.

Concurrent with the departures, the board re-designated Mr. Aman Goel from Whole-Time Director to Non-Executive Director, effective June 19, 2026. The company also appointed M/S. CRA And Associates, Chartered Accountants, as the internal auditors for the financial year 2026-27. The firm, registered under number 020714N, brings experience in internal audits, risk assessment, and regulatory compliance reviews.

Management Changes Summary

Pankaj Polymers Limited has appointed Mr. Mayank Chawla as its Chief Executive Officer and Whole-time Director for a period of five years, effective June 09, 2026. The decision was taken during a Board meeting held on Tuesday, aimed at strengthening the company's leadership and governance structure. The appointment of Mr. Chawla, who brings over 25 years of experience in telecom and fintech sectors, is subject to the approval of the members.

The Board also approved the appointment of four additional directors to expand its oversight capabilities. Mr. Vikas Garg and Mr. Rahul Nagar were appointed as Non-Executive Non-Independent Directors, liable to retire by rotation. Their tenure extends up to the date of the ensuing General Meeting, pending shareholder approval. Both appointees are co-founders of Kredmint and bring significant expertise in digital financial services and technology.

In a move to bolster independent governance, the Board appointed Mr. Siba Narayan Panda and Ms. Richa Kalra as Non-Executive Independent Directors for a term of five consecutive years. Mr. Panda, a former Chief General Manager at the Reserve Bank of India, and Ms. Kalra, a qualified Company Secretary, are not liable to retire by rotation. Their appointments are also subject to member approval and necessary declarations of independence have been furnished.

Summary of Appointments

Furthermore, the Board approved the establishment of a Corporate Office at B-46, First Floor, Sector-2, Noida, Uttar Pradesh – 201301. The company clarified that this new location will serve as the Corporate Office and will not replace the Registered Office located in Secunderabad. The meeting commenced at 03:30 P.M. and concluded at 05:30 P.M. on June 09, 2026.