Globale Tessile Limited Strengthens Leadership with New CFO and Company Secretary Appointments

1 min read Updated on 25 Sept 2025, 04:25 PM

Reviewed by

Radhika SScanX News Team

Overview

Globale Tessile Limited has announced two key appointments: Sumit Agarwal as Chief Financial Officer and Palak Bhavsar as Company Secretary and Compliance Officer, both effective September 25, 2025. Agarwal, an Inter Chartered Accountant with over eight years of experience, will oversee finance and accounts. Bhavsar, a certified Company Secretary with legal expertise, will manage corporate governance and compliance. The Board of Directors approved these appointments, which are expected to enhance the company's financial management and regulatory compliance.

*this image is generated using AI for illustrative purposes only.

Globale Tessile Limited has announced two key appointments to its leadership team, bolstering its financial and compliance capabilities.

New Chief Financial Officer

The company has appointed Shri Sumit Agarwal as its new Chief Financial Officer (CFO) and Key Managerial Personnel, effective September 25, 2025. Agarwal brings over eight years of experience in finance, accounts, and corporate strategy to the role.

Agarwal's credentials include:

Inter Chartered Accountant qualification
Bachelor of Commerce degree from New LJ Commerce College, Ahmedabad
Expertise in financial procedures, modern accounting systems, and budgeting
Successful implementation of cost-reduction strategies
Experience in internal audits and compliance with regulatory requirements

New Company Secretary and Compliance Officer

In a concurrent move, CS Palak Bhavsar has been appointed as the Company Secretary and Compliance Officer, also effective from September 25, 2025.

Bhavsar's qualifications and expertise include:

Company Secretary (CS) certification
LLB Degree
Bachelor of Commerce (B.Com)
Specialization in corporate governance, legal due diligence, and compliance advisement

Board Approval and Immediate Effect

Both appointments were approved by Globale Tessile's Board of Directors during a meeting held on September 25, 2025, at the company's registered office. The board meeting commenced at 3:00 PM and concluded at 3:25 PM.

Independence and Compliance

The company has confirmed that neither Agarwal nor Bhavsar is related to any existing Directors or Key Managerial Personnel of Globale Tessile Limited. This information aligns with the disclosure requirements under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

These strategic appointments are expected to strengthen Globale Tessile's financial management and corporate governance practices, potentially positioning the company for enhanced operational efficiency and regulatory compliance.

Historical Stock Returns for Globale Tessile

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.51%	+8.76%	-11.25%	-23.78%	-63.01%	-84.13%

Resignation Details

According to the company's filing, CS Dhaval Nagar submitted his resignation on September 4, 2025. The reason cited for his departure was the pursuit of professional growth and better career opportunities. Nagar served as a Key Managerial Person of Globale Tessile.

Regulatory Compliance

In compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Globale Tessile promptly informed the stock exchanges about this development. The company provided the following details in its regulatory filing:

Information	Details
Reason for change	Resignation due to better career opportunities and prospects for future growth
Effective date of resignation	September 15, 2025
Position held	Company Secretary & Compliance Officer (Key Managerial Person)

Company's Response

Chairman Jeetmal B. Parekh, in his communication to the stock exchanges, acknowledged the resignation and attached the necessary documents, including CS Dhaval Nagar's resignation letter and the required annexures as per SEBI regulations.