Change in Director / Key Managerial Personnel
Nature of change: Appointment
Name and DIN of the individual: Mr. Sushil Gambhir (DIN not disclosed in the data)
Effective date and tenure: Effective from 1st June 2026. Term of appointment not disclosed.
Brief profile and relevant qualifications: Mr. Sushil Gambhir holds a Bachelor of Commerce (B.Com.) degree from the University of Delhi and a Master of Commerce (M.Com.) degree from Annamalai University. He has been associated with the Company for over 18 years and possesses extensive experience in finance, accounts, taxation, treasury operations, financial reporting, budgeting, internal financial controls, banking management, audit and compliance, trade operations, and regulatory compliance. He has significant experience in banking and treasury matters, including liaison with financial institutions and banks, management of Letters of Credit (LCs), bank guarantees, foreign remittances, export-import documentation, and foreign exchange transactions. He has extensive exposure to financial planning and analysis, statutory and internal audits, cash flow monitoring, working capital management, and implementation of financial control systems.
Confirmation of eligibility: The appointment was based on the recommendation of the Nomination and Remuneration Committee and approved by the Board of Directors, indicating compliance with SEBI/BSE/NSE norms, though specific eligibility confirmation is not explicitly stated.
Relationship with other directors: Not disclosed.
Previous KMP: The data does not mention who held the Chief Financial Officer position earlier or what happened to their tenure.
Potential financial impact: The appointment brings continuity as Mr. Gambhir has 18 years of experience with the company, suggesting minimal disruption to financial operations and decision-making processes.
Key Financial or Operational Approvals
Decisions taken: The Board of Directors approved the appointment of Mr. Sushil Gambhir as Chief Financial Officer and designated him as Key Managerial Personnel.
Financial impacts: No specific financial figures, fundraising, acquisitions, capital infusion, or business restructuring approvals were disclosed in relation to this appointment.
Capital Expenditures, Debt, or Equity-related Decisions: None disclosed beyond the appointment.
Cash flow, leverage, or margin implications: Not disclosed.
Auditor's opinion: Not mentioned.
Strategic or Business Context
No commentary on business outlook, risks, trends, or macro/micro developments was provided in the data. No segment-wise insights or forward-looking actions were disclosed. No material changes in business strategy were discussed.
Any Other Material Information
Shareholding: Mr. Sushil Gambhir shall hold 246 equity shares as trustee towards fractional allotment of equity shares of ABM International Limited, issued pursuant to the scheme of reduction of share capital.
Board Meeting Details: The meeting of the Board of Directors commenced at 12:00 P.M. and concluded at 2:30 P.M. on Saturday, 30th May, 2026.
Regulatory Compliance: The disclosure is made pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024, as amended.