Gravity (India) Limited has announced a key leadership appointment following its board meeting on January 09, 2025. The company's board of directors approved the appointment of Mr. Kuldipsinh Rathod as Additional Director (Executive) and Chief Financial Officer, marking a significant addition to the company's executive team.

Board Meeting Details

The board meeting was conducted on Friday, January 09, 2025, commencing at 3:15 PM and concluding at 3:35 PM. The appointment decision was made based on recommendations from the company's Nomination and Remuneration Committee, which also met on the same day.

Appointment Particulars

The key details of Mr. Rathod's appointment are outlined below:

Professional Background

Mr. Kuldipsinh Rathod brings substantial expertise in finance and accounting management to his new role. According to the company's disclosure, his experience is expected to be valuable in building financial models and implementing strategic plans that support the achievement of company objectives. The appointment aims to enhance operational and financial efficiency within the organization.

Regulatory Compliance

Gravity (India) Limited has confirmed that Mr. Rathod is not debarred from holding directorial positions by SEBI or any other regulatory authority. The company has also disclosed that the new appointee is not related to any existing director of the company, ensuring independence in the appointment process.

Corporate Governance

The appointment was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all necessary disclosures as required under the regulatory framework, including detailed information about the appointee's background and the terms of appointment. The appointment is pending final approval from the company's shareholders as per regulatory requirements.

Gravity India Limited has announced significant corporate governance changes following its Board meeting held on January 08, 2026. The company has made key appointments in both auditing and executive leadership positions, marking important transitions in its organizational structure.

Statutory Auditor Appointments

The Board of Directors approved the appointment of M/s. AVKAS & Co., Chartered Accountants (FRN: 155352W) as the company's statutory auditors following the resignation of M/s. DDM & Associates, Chartered Accountants (Firm Registration No. 133446W). This appointment addresses the casual vacancy created by the previous auditor's departure.

The appointment is subject to shareholder approval at the ensuing General Meeting. M/s. AVKAS & Co. will hold office from January 08, 2026 until the conclusion of the ensuing Annual General Meeting. Additionally, the Board has approved their appointment for a five-year term from the conclusion of the 39th Annual General Meeting until the 44th Annual General Meeting to be held in 2030, covering audit services for FY 2025-26 to 2029-30.

Managing Director Transition

The company experienced a significant leadership change with the resignation of Mr. Manoj Kanhiyalal Ramavat (DIN: 11039927) from his position as Managing Director. His resignation became effective January 08, 2026, citing other professional commitments as the reason for departure.

New Managing Director Profile

Mr. Mukesh Mahendrabhai Parmar (DIN: 11473295) has been appointed as the new Managing Director to fill the casual vacancy. According to the company disclosure, Mr. Parmar brings experience in agriculture and infrastructure business activities, with involvement in operational tasks, planning activities, and team coordination. The company highlighted his leadership abilities and decision-making skills as key qualifications for guiding the business effectively.

Auditor Credentials

M/s. AVKAS & Co., Chartered Accountants is registered with the Institute of Chartered Accountants of India (ICAI) and provides audit and assurance, taxation, and other 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 Standards issued by ICAI.

Meeting Details and Compliance

The Board meeting commenced at 5:30 PM and concluded at 6:30 PM on January 08, 2026. All appointments and changes were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with proper disclosures submitted to the Bombay Stock Exchange. The company confirmed that Mr. Ramavat's resignation contained no material reasons beyond those stated in his resignation letter, and Mr. Parmar is not related to any existing directors of the company.