Pasupati Acrylon Bolsters Board with Two New Independent Directors and Reconstitutes Committees

1 min read     Updated on 18 Sept 2025, 12:27 PM
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Riya DeyScanX News Team
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Overview

Pasupati Acrylon Limited has appointed two new Non-Executive Independent Directors, Mr. Sudhir Agarwal and Mr. Sanjiv Nair, for a five-year term starting September 1, 2025. The company has also reconstituted five board committees following the departure of two outgoing independent directors. Mr. Agarwal brings 39 years of experience in the chemical industry, while Mr. Nair is a retired Indian Administrative Services officer. The changes aim to enhance corporate governance and bring diverse expertise to the company's leadership.

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

Pasupati Acrylon Limited , a key player in the chemical industry, has announced significant changes to its board of directors and committee structure. The company has appointed two new Non-Executive Independent Directors, Mr. Sudhir Agarwal and Mr. Sanjiv Nair, for a five-year term starting September 1, 2025. This move, approved by shareholders at the company's 42nd Annual General Meeting on September 18, 2025, aims to bring fresh perspectives and diverse expertise to the board.

New Appointments

Mr. Sudhir Agarwal

  • Holds a B.Tech in Chemical Engineering from Harcourt Butler Technical University, Kanpur
  • Brings over 39 years of experience in the chemical and process industries
  • Expertise includes:
    • Plant operations
    • Project management
    • Energy and environment conservation
    • Waste management
    • Sustainability
    • Green energy concepts

Mr. Sanjiv Nair

  • Retired Indian Administrative Services officer
  • Previously served as:
    • Additional Chief Secretary of Uttar Pradesh
    • First Director General of the North East Centre for Technology Application and Reach
  • Represented India at the World Meteorological Organization in Moscow for two years

Terms of Appointment

  • Both Mr. Agarwal and Mr. Nair appointed for five consecutive years
  • Term: September 1, 2025, to August 31, 2030
  • Neither director is related to existing directors or key managerial personnel of Pasupati Acrylon Limited

Board Transitions

  • Two outgoing independent directors completed their terms:
    • Mr. S.C. Malik (DIN: 00107170)
    • Mr. D.K. Kapila (DIN: 00060060)
  • Both concluded their second term as Independent Directors at the 42nd Annual General Meeting
  • Ceased to be directors and board committee members effective September 18, 2025

Committee Reconstitution

Effective September 18, 2025, Pasupati Acrylon Limited has reconstituted five Board committees:

Committee Chair Members
Audit Committee Mr. Raj Ganesh Viswanathan Three independent directors and one executive director
Nomination & Remuneration Committee Mr. Sanjiv Nair Two other independent directors
Stakeholders Relationship Committee Mrs. Kamlesh Gupta Two executive directors
Corporate Social Responsibility Committee Mr. Raj Ganesh Viswanathan Executive Managing Director Mr. Vineet Jain and Executive Director Mr. Satya Prakash Gupta
Risk Management Committee Mr. Sanjiv Nair Three other directors

Compliance and Governance

  • Pasupati Acrylon Limited confirmed that Mr. Agarwal and Mr. Nair are not debarred from holding directorship positions by any SEBI order or other authority
  • Complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Ms. Mehak Gupta of M/s. Mehak Gupta & Associates appointed as Secretarial Auditor for five years (FY 2025-26 to 2029-30)

These board changes, appointments, and committee reconstitutions reflect Pasupati Acrylon's commitment to maintaining strong corporate governance and bringing diverse expertise to its leadership team. The new directors and committee structure are expected to contribute significantly to the company's strategic direction and growth initiatives in the chemical sector.

Historical Stock Returns for Pasupati Acrylons

1 Day5 Days1 Month6 Months1 Year5 Years
+0.07%-0.07%+8.34%-7.45%-9.34%+23.46%
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Pasupati Acrylon Promoter Gifts 4.97% Stake to Brother in Off-Market Deal

1 min read     Updated on 05 Sept 2025, 06:53 PM
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Suketu GalaScanX News Team
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Overview

Manish Jain, a promoter group member of Pasupati Acrylon Limited, has transferred his entire 4.97% stake (44,29,232 shares) to his brother Vineet Jain as a gift through an off-market transaction. The transfer was completed on February 8, 2022. Despite this change, the overall promoter group shareholding remains unchanged at 60.90% of the company's total share capital.

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

Pasupati Acrylon Limited , a key player in the acrylon industry, has witnessed a significant change in its promoter shareholding structure. Manish Jain, a member of the company's promoter group, has transferred his entire stake to his brother Vineet Jain as a gift through an off-market transaction.

Transaction Details

The transfer involved 44,29,232 equity shares, representing 4.97% of Pasupati Acrylon's total share capital. This move has resulted in Manish Jain's individual shareholding in the company reducing to nil. The transaction was completed on February 8, 2022.

Impact on Promoter Group Holding

Despite the intra-family transfer, the overall promoter group shareholding remains unchanged. The promoter group collectively continues to hold 5,43,46,213 shares, which accounts for 60.90% of the company's total share capital.

Key Points of the Transaction

Aspect Details
Transferor Manish Jain (Promoter group member)
Transferee Vineet Jain (Brother of Manish Jain)
Shares Transferred 44,29,232
% of Total Capital 4.97%
Nature of Transaction Gift (Off-market transfer)
Date of Completion February 8, 2022

Implications

This transfer of shares within the promoter family represents a reshuffling of ownership within the promoter group. However, it's important to note that both Manish Jain and Vineet Jain remain part of the promoter group, indicating that the overall control and management influence of the promoter family in Pasupati Acrylon Limited remains intact.

The move could be part of a family wealth redistribution strategy or succession planning within the promoter group. While the individual shareholding of Manish Jain has reduced to zero, the consolidated promoter group holding remains strong at over 60% of the company's share capital.

Investors and market watchers may want to monitor any potential changes in the company's management or strategic direction following this intra-promoter share transfer, although no immediate changes have been indicated.

Historical Stock Returns for Pasupati Acrylons

1 Day5 Days1 Month6 Months1 Year5 Years
+0.07%-0.07%+8.34%-7.45%-9.34%+23.46%
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