Gravity (India) Limited announced major organizational changes during its board meeting held on January 08, 2026, including new appointments for statutory auditors and managing director positions. The meeting, which commenced at 5:30 PM and concluded at 6:30 PM, addressed critical leadership transitions and regulatory compliance matters.

Statutory Auditor Appointments

The company made two significant auditor-related decisions following the resignation of M/s. DDM & Associates, Chartered Accountants. Based on audit committee recommendations, the board approved the appointment of M/s. AVKAS & Co., Chartered Accountants to address both immediate and long-term auditing needs.

M/s. AVKAS & Co. is a registered firm with the Institute of Chartered Accountants of India, specializing in audit and assurance, taxation, and professional services. The firm possesses the requisite professional competence, experience, and infrastructure to undertake statutory audit assignments in accordance with the Companies Act, 2013 and ICAI standards.

Managing Director Transition

The company experienced a complete change in its managing director position on January 08, 2026. Mr. Manoj Kanhiyalal Ramavat resigned from his role due to other professional commitments, leading to the immediate appointment of Mr. Mukesh Mahendrabhai Parmar as his replacement.

New Managing Director Profile

Mr. Mukesh Mahendrabhai Parmar brings extensive experience in agriculture and infrastructure business activities to his new role. His background includes involvement in operational tasks, planning activities, and team coordination. The company highlighted his experience and steady approach in guiding business operations effectively while supporting smooth processes. His leadership abilities and decision-making skills are expected to contribute to the company's profitable growth.

Regulatory Compliance

All appointments announced during the board meeting are subject to shareholder approval at the ensuing general meeting. The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing comprehensive details about the changes in leadership and auditor appointments.

The outgoing managing director, Mr. Manoj Ramavat, confirmed in his resignation letter that there are no material reasons for his departure beyond those stated, citing pre-occupation as the primary factor. The company expressed appreciation for his contributions during his tenure and acknowledged the cooperation extended by all stakeholders.

Gravity (India) Limited has announced a significant leadership change with the resignation of Managing Director Manoj Kanhiyalal Ramavat, effective January 08, 2026. The company formally communicated this development to the Bombay Stock Exchange in compliance with regulatory requirements under SEBI (LODR) Regulations, 2015.

Resignation Details

The resignation encompasses both Ramavat's role as Managing Director and his position as Director of the company. According to the official communication, the departure is attributed to other professional commitments that require his attention.

Regulatory Compliance

Gravity (India) Limited has fulfilled its disclosure obligations by submitting the required documentation to the stock exchange. The company provided comprehensive details as mandated under Regulation 30 of the Listing Regulations, including the resignation letter and confirmation that no material reasons exist beyond those stated.

Company Secretary and Compliance Officer Geetanjali Malik signed the official communication, ensuring proper adherence to SEBI Master Circular guidelines dated November 11, 2024. The resignation letter, dated January 08, 2026, specifically mentions "pre-occupation" as the primary factor behind Ramavat's decision.

Official Confirmation

In his resignation letter addressed to the Board of Directors, Ramavat expressed gratitude for the trust and cooperation extended during his tenure. He specifically confirmed that no other material reasons exist for his resignation apart from those stated, providing transparency in the leadership transition process.

The company has requested the stock exchange to acknowledge this change and treat it as compliance with applicable SEBI LODR Regulations provisions. This resignation marks a notable change in the company's senior management structure as it moves forward with its business operations.