Morarjee Textiles Limited has appointed three new non-executive directors to its board effective June 4, 2026, pursuant to the Resolution Plan approved by the National Company Law Tribunal (NCLT), Mumbai Bench. The appointments were made upon recommendation/approval of the Implementation and Monitoring Committee (IMC) and are in compliance with the NCLT order dated May 11, 2026, in IA(IBC)(Plan)/45/MB/2025 in Company Petition No. CP (IB) No.1318 of 2022 under Section 31 of the Insolvency and Bankruptcy Code, 2016.

Director Appointments:

Mr. Govind Gopaldas Rathi (DIN: 06740026)

  • Appointment Date: June 4, 2026
  • Position: Non-Executive Director
  • Age: 45 years (Date of Birth: April 1, 1981)
  • Education: Commerce graduate
  • Experience: Over 20 years in cotton, textile, and allied industries
  • Background: Instrumental in transforming family business from modest garments shop and cotton trading into diversified business group comprising ginning and pressing units, oil mills, and spinning units
  • Role: Responsible for overall management and operations of the Company

Mr. Pravin Ratanlal Jain (DIN: 00546482)

  • Appointment Date: June 4, 2026
  • Position: Non-Executive Director
  • Profile: First-generation entrepreneur with diversified business group spanning real estate & infrastructure, industrial manufacturing, information technology & e-governance, and trading & industrial products
  • Business Experience: Founded Aiwa Weigh Instruments (India) Pvt. Ltd. in 2002, systematically expanded into multiple sectors
  • Group Turnover: FY 2023-24: ₹208.11 Cr, FY 2024-25: ₹142.47 Cr, FY 2025-26: ₹169.88 Cr
  • Key Companies: Riyansh Industries Pvt Ltd, Aiwa Weigh Instruments (India) Pvt. Ltd., Kirtisagar Metalloys Pvt. Ltd., Kirtisagar Realty Pvt Ltd, PPJ Properties Pvt Ltd, KS Shreeya Infrastructure Pvt. Ltd., Kirtisagar IT Services Pvt Ltd, Garuda Amusements Park (Nagpur) Pvt. Ltd.

Mr. Sandeep Ramesh Joshi (DIN: 08674974)

  • Appointment Date: June 4, 2026
  • Position: Non-Executive Director
  • Age: 45 years (Date of Birth: July 18, 1980)
  • Education: Commerce Graduate
  • Experience: Extensive experience in business management and industrial operations, actively associated with the Company for past 10 years
  • Expertise: Well conversant with provisions of Factories Act, 1948 and rules framed thereunder, substantial experience in factory compliance, occupational health, safety, and welfare measures
  • Potential Role: Competent to act as Occupier of the factory if designated by the Company

Compliance and Regulatory Aspects:

  • The appointments comply with the Approved Resolution Plan, IBC provisions, Companies Act, 2013 and relevant rules/regulations
  • Necessary filings with Registrar of Companies (RoC) in prescribed Form DIR-12 and other applicable forms have been/shall be made within statutory timelines
  • All newly appointed Directors have active DIN numbers in good standing
  • None of the Directors are disqualified under Section 164 of the Companies Act, 2013
  • All Directors are not debarred from holding office by virtue of any SEBI order or other authority

Disclosure Requirements:

  • Made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • References SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
  • Includes declarations as required pursuant to BSE Circular Ref. No. LIST/COMP/14/2018-19 and NSE Ref. No. NSE/CML/2018/24 dated June 20, 2018

Document Context:

  • This disclosure is in continuation of earlier disclosures regarding approval and implementation of the Resolution Plan under IBC provisions
  • The letter is signed by Ravi Sethia (IBBI Regn No. IBBI/IPA-001/IP-P01305/2018-2019/12052) on behalf of Morarjee Textiles Limited
  • Addressed to BSE Limited and National Stock Exchange of India Limited for dissemination to market participants and investors