Talwalkars Better Value Fitness Limited has undergone a comprehensive board restructuring following directives from the National Company Law Tribunal (NCLT), Mumbai. The fitness company announced these changes through a board meeting outcome dated March 16, 2026, marking a significant transformation in its leadership structure pursuant to NCLT order dated February 26, 2026.

NCLT-Mandated Board Confirmations

The company's board meeting, held on March 16, 2026, confirmed the appointment of five directors as per clause 6.1 (M) of the NCLT order dated February 26, 2026. These appointments were made pursuant to Order No: I.A. No. 840 of 2025 IN C.P. (IB) No. 1056/MB/2020.

Director Cessations and Leadership Changes

Simultaneously, the company announced the deemed cessation of office for several directors and key management personnel effective March 16, 2026, pursuant to clause 6.1 (N) of the same NCLT order.

New Key Management Appointments

The board has strengthened its management team with two key appointments effective March 16, 2026. Ms. Pooja Jain has been appointed as Company Secretary and Compliance Officer. She is a qualified Company Secretary with ACS: 70393 and holds a Master of Commerce degree from the University of Rajasthan, Jaipur, bringing over three years of experience in secretarial work.

Mr. Satish Kalmaste has been appointed as the new Chief Financial Officer, replacing the outgoing CFO. He holds a Bachelor of Commerce degree from Mumbai University and brings over 11 years of experience in Accounts, Finance, and Income Tax.

Leadership Profiles and Experience

The newly confirmed Managing Director, Arvind Pradhan Bhanushali, brings over 26 years of expertise in digital marketing strategy, movie marketing, and business development, with extensive experience in both Indian and overseas markets. Executive Director Kurjibhai Premjibhai Rupareliya contributes more than 44 years of varied business experience and currently holds directorships in two other listed entities: Magnanimous Trade & Finance Limited and MPF Systems Limited.

Independent Director Jignesh R. Lasaniawala adds significant financial expertise with over 25 years of experience in finance, accounts, and taxation. He holds an MBA in Finance and a Doctorate in Finance, having previously worked with notable organizations including Patni Computer, PricewaterhouseCoopers, Pfizer, Vodafone, Patel Engineering Limited, and Balaji Telefilms.

Regulatory Compliance and Board Reconstitution

All newly appointed directors have provided affirmations confirming they are not debarred from holding directorial positions by SEBI or any other regulatory authority. The board has also reconstituted various board committees following these appointments. The board meeting commenced at 04:30 PM and concluded at 05:00 PM on March 16, 2026, with all decisions made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Aptus Value Housing Finance India Limited has announced the completion of tenure of its Independent Director Mr. V. G. Kannan, who ceased to hold the position effective March 08, 2026. The company informed stock exchanges about this development through a regulatory filing under SEBI disclosure requirements.

Director Tenure Completion Details

Mr. V. G. Kannan, holding Director Identification Number (DIN) 03443982, completed his first term of five consecutive years as an Independent Director of the company. His tenure concluded at the close of business hours on March 08, 2026, following the natural expiration of his statutory term.

Regulatory Compliance

The company made this disclosure pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.

The disclosure also complied with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, which mandates specific reporting requirements for changes in board composition.

Nature of Departure

Unlike resignation or removal scenarios, Mr. Kannan's departure represents the natural conclusion of his independent directorship tenure. The regulatory framework for Independent Directors typically limits their tenure to ensure independence and fresh perspectives in corporate governance.

The company's filing indicated that standard disclosure requirements related to resignation letters, detailed reasons for departure, and confirmation of no material reasons beyond those provided were marked as "Not Applicable" since this was a tenure completion rather than a voluntary resignation.

Corporate Governance Impact

The completion of Mr. Kannan's tenure reflects the company's adherence to corporate governance norms regarding Independent Director tenure limits. Companies are required to maintain appropriate board composition with Independent Directors serving defined terms to ensure effective oversight and governance.