Hi-tech gears Limited has announced a strategic leadership restructuring following a board meeting held on January 13, 2026. The company disclosed key managerial personnel changes under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marking a significant transition in its executive leadership.

CFO Transition Details

The board approved the resignation of Kapil Rajora from his position as Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on January 13, 2026. According to the company's disclosure, this resignation was necessitated by a change in his professional role within the organization rather than any material concerns.

New CFO Appointment

Vinod Raheja has been appointed as the new Chief Financial Officer and Key Managerial Personnel, effective January 14, 2026. His appointment was recommended by both the Nomination and Remuneration Committee and the Audit Committee.

Raheja brings extensive experience across multiple industries, having progressed from Senior Manager – Finance at Hero MotoCorp (1993-2006) to various senior positions including Deputy General Manager at Jindal Steel & Power, Vice President at JCB India, CFO at Shriram Pistons & Rings, Group CFO at Akums Drugs, and Group CFO at Minda Corporation.

Leadership Continuity Strategy

Kapil Rajora will transition to Chief Commercial Officer, designated as Senior Management Personnel under SEBI (LODR) Regulations, 2015, effective January 14, 2026. This strategic move ensures continuity of his expertise within the organization while facilitating the leadership transition.

Rajora holds a Bachelor of Engineering degree in Electrical Engineering from Delhi College of Engineering and completed his Post Graduate Programme from Indian Institute of Management Bangalore in 2006. He brings approximately 20 years of experience in Strategic Business Planning, Financial Planning, Working Capital Management, and Cross-border Mergers & Acquisitions. Since 2017, he has been associated with Hi-Tech Gears Limited, initially as Vice President (Strategy and Special Projects) before being appointed as CFO.

Board Meeting Summary

The board meeting commenced at 05:30 P.M. and concluded at 05:56 P.M. on January 13, 2026, lasting 26 minutes. The meeting was conducted in compliance with regulatory requirements, with Company Secretary and Compliance Officer Naveen Jain overseeing the documentation and disclosure process.

The leadership changes reflect the company's strategic approach to organizational development while maintaining operational continuity through internal transitions and experienced external appointments.

Hi-Tech Gears Limited has received temporary relief in its ongoing Corporate Insolvency Resolution Process (CIRP) proceedings, with the National Company Law Appellate Tribunal (NCLAT) extending the interim stay and postponing the next hearing to February 2026.

NCLAT Proceedings Update

The company informed stock exchanges on December 18, 2025, about the latest developments in its CIRP case:

The NCLAT could not hear the matter on the scheduled date of December 16, 2025, due to paucity of time, leading to the postponement. The tribunal has directed the continuation of the interim stay on the CIRP process that was originally granted on September 03, 2024.

Recent Financial Performance Context

Prior to these legal developments, the auto component manufacturer had reported challenging financial results for Q2 and H1 FY26:

The company had faced headwinds in both domestic and international operations, with North American operations particularly affected by geopolitical uncertainties.

Legal Framework and Implications

The CIRP proceedings stem from a case filed by Happy Forgings Limited against Hi-Tech Gears. The company secretary Naveen Jain, representing the company as appellant, has been pursuing the matter through legal channels. The interim stay provides temporary protection from the insolvency resolution process while the appeal is pending.

Business Continuity Measures

Despite the legal challenges, Hi-Tech Gears has continued its operational activities and strategic initiatives. The company had previously secured new business worth ₹860.00 million annualized and maintained 117 precision components under development across various automotive segments.

Market Position and Outlook

As a leading auto component manufacturer serving both ICE and EV segments, Hi-Tech Gears operates across domestic and international markets. The extended stay period until February 2026 provides the company additional time to address its financial challenges and work toward a resolution of the insolvency proceedings.

The company's management has emphasized focus on cost discipline, prudent financial management, and operational improvements during these challenging times.