Palash Securities Limited , has announced significant changes to the leadership team of its material unlisted subsidiary, Morton Foods Limited. The company has appointed a new Chief Financial Officer and an Additional Director in the Independent Category.

Key Appointments

CFO Appointment

Nirmal Kumar Sharma brings a wealth of experience to his role as Chief Financial Officer. His expertise spans finance, accounts, taxation, and strategic budgetary planning across various sectors including retail, multinational corporations, services, and manufacturing. Sharma's appointment is effective from November 6, 2025, strengthening Morton Foods' financial leadership.

Independent Director Addition

Ashishkumar Harimohan Srivastava joins the board as an Additional Director in the Independent Category, subject to shareholder approval. His appointment, effective November 7, 2025, is for a five-year term. Srivastava's extensive experience in the textile value chain, business excellence, strategy frameworks, and commercial operations is expected to bring valuable insights to Morton Foods' board.

Regulatory Compliance

These appointments were disclosed by Palash Securities Limited in compliance with Regulation 30(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Srivastava is not debarred from holding the office of Director by any MCA/SEBI order or other such authorities.

Looking Ahead

With these strategic appointments, Morton Foods Limited appears to be strengthening its leadership team. The diverse experience of both appointees may contribute to enhanced strategic decision-making and operational efficiency within the company.

Investors and stakeholders of Palash Securities Limited may want to monitor how these leadership changes in its material subsidiary impact the overall performance and strategy of the group in the coming quarters.

Palash Securities Limited (NSE: PALASHSECU, BSE: 540648) has announced that its material unlisted subsidiary, Morton Foods Limited, will see the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Shravan Kumar Jain. The resignation will take effect from the close of business hours on August 7, 2025.

Resignation Details

The Board of Directors of Morton Foods Limited convened a meeting on August 7, 2025, where they accepted Mr. Jain's resignation. According to the official disclosure made by Palash Securities Limited under SEBI regulations, Mr. Jain cited personal reasons for his departure in his resignation letter dated May 20, 2025.

Company Statement

In compliance with Regulation 30(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Palash Securities Limited issued a statement to the National Stock Exchange of India Ltd. and BSE Ltd. The company emphasized that there were no other material reasons for Mr. Jain's resignation beyond the personal reasons stated in his letter.

Regulatory Compliance

The disclosure was made in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Palash Securities Limited, as the holding company, is required to report significant changes in its material subsidiaries to ensure transparency and compliance with regulatory standards.

Impact and Future Steps

While the company has not provided information on a successor, the resignation of a key financial executive like the CFO can be significant for any organization. Stakeholders will likely be watching closely to see how Morton Foods Limited and its parent company, Palash Securities Limited, manage this transition in their financial leadership.

The markets will be observing any potential impact on Morton Foods Limited's operations and financial strategies following this change in key personnel. As of now, no further details have been provided regarding the company's plans to fill the CFO position.