Key Personnel Change

Mr. Rachit Jain, Business Head-Formwork Division (designated as Senior Management Personnel), has tendered his resignation from the position.

Resignation Details

  • Resignation Date: Submitted via email dated 01 June 2026
  • Effective Date: Relieved with effect from 15 June 2026 (close of business hours)
  • Reason for Resignation: Differences in expectations regarding development, timelines, and management approach for the Formwork Division

Transition Request

Mr. Jain requested a three-month transition period citing that he joined MSAFE after leaving a stable position and the transition was not anticipated. He offered to support during this period and ensure proper handover of responsibilities.

Company Response

The company acknowledged and accepted the resignation on 05 June 2026 but relieved him effective 15 June 2026 instead of the requested three-month period, stating "Subject to our mutual understanding".

Filing Details

  • Reference Number: MSAFE/SE/2026-27/20
  • Date: 05 June 2026
  • Submitted to: BSE Limited Listing Department

Financial Impact

Financial impact not quantified in the disclosure.