Thakkers Group Ltd, a company listed on the BSE Limited, has reported a significant change in its promoter shareholding structure. Jitendra Manohardas Thakker, a member of the promoter group, has acquired a substantial stake in the company through a gift transfer from his sister.

Key Details of the Transaction

Impact on Shareholding

The inter-se transfer has resulted in a reshuffling of shares within the promoter group:

Regulatory Compliance

This transaction is classified as an inter-se transfer among immediate relatives within the promoter group. As such, it is exempt from open offer requirements under applicable regulations.

Overall Promoter Holding

Despite the internal transfer, the collective shareholding of the promoter and promoter group remains unchanged at 56.09% of the company's total share capital.

Company Background

Thakkers Group Ltd, formerly known as Asian Food Products Limited, is a BSE-listed entity. The substantial promoter holding suggests it may be a closely-held business with significant family ownership.

This share transfer highlights the dynamic nature of promoter holdings in Indian listed companies and underscores the importance of monitoring such transactions for potential impacts on corporate governance and control structures.

Thakkers Group Limited, a prominent player in the real estate and construction sectors, has announced a significant change to its board composition. At the company's 38th Annual General Meeting held on September 30, 2025, shareholders approved the appointment of Mr. Manish Vilas Lonari as an Independent Director for a five-year term, effective October 1, 2025.

Expertise and Experience

Mr. Lonari is a practicing advocate with over two decades of experience specializing in civil and criminal law. He continues a family legacy in advocacy spanning 40-45 years. His extensive legal background is expected to be a valuable asset to the company's ongoing and future operations.

Board's Perspective

The Board of Directors believes that Mr. Lonari's legal expertise will strengthen the company's compliance, governance, and decision-making framework. His wealth of knowledge in the legal field is expected to support effective execution and coordination in various projects.

Appointment Details

The appointment of Mr. Manish Vilas Lonari was made pursuant to the provisions of the Companies Act, 2013, and related rules. The Board's decision aligns with the company's commitment to maintaining strong corporate governance practices.

Compliance and Governance

Notably, Mr. Lonari has not been debarred from holding the office of a director by SEBI or any other authority. This appointment reinforces the company's dedication to upholding high standards of corporate governance. It's also worth noting that Mr. Lonari has no relationships with other directors of the company.

Looking Ahead

With this new addition to its board, Thakkers Group Limited aims to leverage Mr. Lonari's extensive legal experience to enhance its operations and strategic decision-making. As the company moves forward with its refreshed board composition, stakeholders will be keen to observe how these changes influence the company's future direction and performance in the competitive real estate market.