ADDI Industries Limited Board Restructuring and Key Personnel Resignations
ADDI Industries Limited underwent comprehensive leadership changes with board restructuring on December 11, 2025, followed by key operational resignations on December 24, 2025. The changes include appointment of new directors and reconstitution of board committees as part of management transition under Share Purchase Agreement.
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Addi Industries Limited has undergone significant organizational changes with a comprehensive board restructuring effective December 11, 2025, followed by additional key personnel resignations announced on December 24, 2025. The restructuring involves the appointment of four new directors and multiple resignations, including the Managing Director and Chief Financial Officer, marking a substantial transition in the company's leadership following a change in management control.
New Director Appointments
The Board of Directors approved several key appointments based on recommendations from the Nomination and Remuneration Committee. The new appointments reflect the company's strategic direction under new management.
| Position: | Name | Category | Term | Rotation |
|---|---|---|---|---|
| Whole Time Director | Mr. Sandeep Mittal (DIN: 00225089) | Promoter, Executive | 5 years | Not liable |
| Non-Executive Director | Mr. Rajat Goyal (DIN: 03543956) | Promoter | - | Liable |
| Independent Director | Mr. Jai Kishan (DIN: 11033609) | Independent | 5 years | Not liable |
| Independent Director | Ms. Preeti Jain (DIN: 08803345) | Independent | 5 years | Not liable |
All appointments are effective from December 11, 2025, with the Whole Time Director and Independent Director positions subject to member approval.
Leadership Resignations - December 11, 2025
Six key personnel submitted their resignations on December 11, 2025, citing the change in management and control as part of the Share Purchase and Transfer of Control Agreement dated May 20, 2025.
Executive Departures
| Position: | Name | DIN/Details |
|---|---|---|
| Managing Director & Chairman | Mr. Chaman Lal Jain | DIN: 00022903 |
| Non-Executive Director | Mr. Hari Bansal | DIN: 00022923 |
| Chief Financial Officer | Mr. Atul Kumar Jain | - |
Independent Director Resignations
Three Independent Directors also resigned as part of the management transition:
- Mr. Achal Kapoor (DIN: 09150394) - Former Audit Committee Chairperson
- Ms. Apra Sharma (DIN: 10149103) - Former Audit Committee Member
- Mr. Subrata Panda (DIN: 00428387) - Former Stakeholders Relationship Committee Chairperson
Additional Resignations - December 24, 2025
The company announced further resignations on December 24, 2025, affecting key operational positions. These resignations were formally communicated through resignation letters submitted to the Board of Directors and reported under Regulation 30 of SEBI (LODR) Regulations, 2015.
| Position: | Name/Entity | Reason |
|---|---|---|
| Company Secretary & Compliance Officer | Ms. Taranjeet Kaur | Professional commitments |
| Internal Auditor | Rajeev Shagan Gupta Co., Chartered Accountants | Pre-occupation with other assignments |
| Secretarial Auditors | JVS and Associates, Company Secretaries | Pre-occupation with other assignments |
Board Committee Reconstitution
Following the leadership changes, the company reconstituted its key board committees effective from the conclusion of the December 11, 2025 board meeting.
Audit Committee
| Position: | Name | Category |
|---|---|---|
| Chairperson | Mr. Jai Kishan | Independent Director |
| Member | Mr. Rajat Goyal | Non-Executive Director |
| Member | Ms. Preeti Jain | Independent Director |
Nomination and Remuneration Committee
| Position: | Name | Category |
|---|---|---|
| Chairperson | Mr. Jai Kishan | Independent Director |
| Member | Mr. Rajat Goyal | Non-Executive Director |
| Member | Ms. Preeti Jain | Independent Director |
Stakeholder Committee
| Position: | Name | Category |
|---|---|---|
| Chairperson | Mr. Jai Kishan | Independent Director |
| Member | Mr. Rajat Goyal | Non-Executive Director |
| Member | Ms. Preeti Jain | Independent Director |
Regulatory Compliance and Documentation
The December 24, 2025 resignations were formally documented through individual resignation letters. Ms. Taranjeet Kaur, Company Secretary (Membership No. 8991), cited professional commitments in her resignation letter. Rajeev Shagan Gupta Co., Chartered Accountants (FRN: 018530N), and JVS and Associates, Company Secretaries, both cited pre-occupation with other assignments as their reason for resignation.
The regulatory intimation was signed by Director Mr. Rajat Goyal (DIN: 03543956) and submitted to BSE Limited in compliance with SEBI Listing Regulations. All resignations became effective immediately from December 24, 2025.
New Leadership Profiles
The incoming directors bring diverse expertise to the board. Mr. Sandeep Mittal is a qualified accounting and legal professional with over 20 years of experience in finance and investment management. Mr. Rajat Goyal, a distinguished Chartered Accountant with two decades of experience, holds certification as a Certified Internal Auditor from the Institute of Internal Auditors, Florida, USA, and has co-founded several companies within the Mufin Finance Group.
Ms. Preeti Jain, FCS, specializes in regulatory compliance with over 13 years of experience in legal and compliance matters. Mr. Jai Kishan, CS, FCS, M.Com, brings extensive experience in Company Law, Intellectual Property Rights, and regulatory compliance.
The board meeting for the initial restructuring commenced at 04:30 P.M. (IST) and concluded at 06:30 P.M. (IST) on December 11, 2025, with all resolutions passed in accordance with SEBI regulations and listing requirements.
Historical Stock Returns for Addi Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.65% | -2.93% | -8.34% | +0.11% | +147.67% | +3,360.62% |
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