In a decisive move signaling a new phase of governance, Grand Foundry Limited disclosed a comprehensive reconstitution of its board and key management following the successful open offer and transfer of control to SAR Televenture Limited. The board said the changes, effective July 9, 2026, are intended to align leadership with the new ownership trajectory, subject to the usual statutory and shareholder approvals.
On the executive front, the board approved the appointment of Deepak Chaudhary as an Additional Director designated as Managing Director for a five-year term. The same meeting appointed Vikas Tandon as an Additional Director designated as Whole-time Director for a five-year term; he currently serves as the Whole-time Director at the holding company, SAR Televenture Limited, and the board noted its holding company’s no-objection to his appointment. Separately, Kamal Garg was appointed Chief Financial Officer, with the designation of Key Managerial Personnel under the Companies Act 2013. Paramjit Singh was named an Additional Director in the Non-Executive Non-Independent category, while Arun Goel was appointed an Additional Director in the Non-Executive Independent category for five years, both subject to shareholder approvals.
The company also announced a sweeping wave of resignations as part of the change in control: Aishwarya Singhvi, Gaurav Goyal, Rakesh Kumar Bansal, Saurabh Goyal, and Nitin Gupta all resigned from their respective roles (Independent Director, Managing Director, Whole-time Director, Non-Executive Director, and Chief Financial Officer) effective the close of business on July 9, 2026, amid the transition. The board noted that these departures accompany the acquisition and shift in control to SAR Televenture Limited. In addition, the board revised the list of Key Managerial Personnel authorized for materiality disclosures and approved a change in the company’s place of keeping books and papers to a new Noida address, strengthening governance and administrative alignment with the new structure.
Taken together, the changes point to a deliberate reorientation of Grand Foundry’s leadership under new owners, with a fresh executive team and board freshening up the company’s strategic leadership while the market watches for shareholder clearances and formal approvals.