Gayatri Projects Limited has announced significant changes to its Board of Directors and key management positions, marking a substantial restructuring of the company's leadership.

New Appointments

The Board of Directors, in their recent meeting, approved several high-profile appointments:

• Mr. T. Sandeep Kumar Reddy has been appointed as the new Chairman and Managing Director of the company.
• Ms. T. Sarita Reddy joins the board as an Executive Director.
• Three new Independent Directors have been added to the board:
  • Mr. P.V. Narayana Rao
  • Mr. C.V. Rayudu
  • Mr. Srinivas Iduri
• Mr. N. Seshagiri Rao has been named as the new Chief Financial Officer (CFO) of the company.

Resignations

The restructuring also saw the departure of two key figures from the board:

• Mrs. T. Indira Reddy has resigned from her positions as Chairperson and Director.
• Mr. J. Brij Mohan Reddy has stepped down from his roles as Executive Vice Chairman and Director.

Implications and Compliance

These changes represent a significant shift in the company's leadership structure. The appointments and resignations were approved by the Board of Directors during their meeting, as disclosed in the company's filing to the stock exchanges.

Gayatri Projects Limited has stated that these changes are in compliance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations. The company has submitted detailed information regarding these changes to the stock exchanges as required by SEBI regulations.

This board restructuring could potentially signal a new direction for Gayatri Projects Limited, a company known for its presence in the infrastructure sector. Shareholders and market observers will likely be watching closely to see how these leadership changes might influence the company's strategy and performance in the coming months.

In a significant development for Gayatri Projects Limited , the National Company Law Tribunal (NCLT) Hyderabad bench has approved the withdrawal of Corporate Insolvency Resolution Process (CIRP) against the company. This decision marks a turning point for the infrastructure firm, which had been undergoing insolvency proceedings since November 2022.

Key Highlights

• The NCLT Hyderabad bench allowed the withdrawal of the CIRP petition against Gayatri Projects Limited.
• The withdrawal application was filed under Section 12A of the Insolvency and Bankruptcy Code by State Bank of India, the original applicant.
• The Committee of Creditors (CoC) approved the withdrawal with more than 90% of the voting share, meeting the statutory requirements.
• The CIRP process against Gayatri Projects now stands closed, and the Resolution Professional has been discharged.

Background and Implications

Gayatri Projects Limited, a prominent player in the infrastructure sector, had been facing financial challenges that led to the initiation of insolvency proceedings by State Bank of India in November 2022. The recent NCLT order effectively closes these proceedings, potentially offering the company a fresh start.

Company's Response

In an official intimation to the stock exchanges, Gayatri Projects Limited confirmed the NCLT's decision. The company stated, "This is to inform that vide order in IA(IBC)/1475/2025, the Hon'ble NCLT, Hyderabad bench has allowed withdrawal of Company Petition No. CP(IB) 308/07/HDB/2022 filed under Section 7 of the Insolvency and Bankruptcy Code 2016 by State Bank of India, the original applicant."

Future Outlook

While the withdrawal of insolvency proceedings is a positive development for Gayatri Projects, it's important to note that the NCLT has retained a provision for potential revival of the proceedings. The tribunal's order specifies that the applicant (State Bank of India) has the liberty to revive the proceedings or petition in case of any violation of the settlement terms and conditions.

This development could potentially pave the way for Gayatri Projects to restructure its operations and finances, aiming for a turnaround in its business performance. Stakeholders will likely be watching closely to see how the company leverages this opportunity to strengthen its financial position and operational capabilities in the coming months.

As the infrastructure sector continues to play a crucial role in India's economic growth, the revival of companies like Gayatri Projects could have broader implications for the industry and its various stakeholders.