Svarnim Trade Udyog appoints new chairperson, reshuffles board committees

ScanX News Svarnim Trade Udyog appoints new chairperson, reshuffles board committees 1 min read | Published on 08 Sept 2026, 10:20 PM | Updated on 08 Sept 2026, 10:20 PM Reviewed by Add as a preferred source on Google *this image is generated using AI for illustrative purposes only. Svarnim Trade Udyog Limited has appointed Ms. Sangeeta Aggarwal as Additional Non-Executive and Non-Independent Director cum Chairperson, effective September 8, 2026. The board also inducted Mr. Parin Shirishkumar Bhavsar as an Independent Director while noting the cessation of two directors whose appointments were not approved at the 44th Annual General Meeting. The changes follow a board meeting held on September 8, 2026, in Kolkata. The company informed stock exchanges that Mr. Gulshan Kumar Aggarwal and Ms. Nidhi Bansal ceased to hold office with effect from September 7, 2026, due to the non-approval of requisite resolutions by shareholders at the recent AGM. New Appointments Mr. Bhavsar, a qualified Company Secretary with six years of experience in corporate compliance and governance, joins as an Additional Non-Executive and Independent Director. His appointment is subject to shareholder approval in a general meeting. Ms. Aggarwal, an experienced stock market trader, assumes the role of Chairperson alongside her directorship. She is the mother of Ms. Surbhi Aggarwal, the company's Whole-time Director. Committee Reconstitutions The board reconstituted three key committees effective September 8, 2026: Committee Chairperson Members Audit Committee Ms. Chiranggi Rahul Goud Mr. Parin Shirishkumar Bhavsar, Ms. Surbhi Aggarwal Nomination and Remuneration Committee Ms. Chiranggi Rahul Goud Mr. Parin Shirishkumar Bhavsar, Ms. Sangeeta Aggarwal Stakeholder Relationship Committee Ms. Sangeeta Aggarwal Ms. Chiranggi Rahul Goud, Ms. Surbhi Aggarwal Ms. Goud, a Non-Executive and Independent Director, chairs both the Audit and Nomination and Remuneration Committees. Ms. Bansal, who ceased her role, previously held directorships in Yarn Syndicate Limited, Trans India House Impex Limited, and Vivanta Industries Limited. Historical Stock Returns for Svarnim Trade Udyog 1 Day 5 Days 1 Month 6 Months 1 Year 5 Years 0.0% 0.0% 0.0% - 0. 87 % 0.0% - 95. 27 % How might the concentration of leadership roles within the Aggarwal family impact the company's corporate governance and decision-making independence? fuzz it What specific strategic initiatives is the new Chairperson, Ms. Sangeeta Aggarwal, expected to prioritize given her background in stock market trading? fuzz it Will the induction of Mr. Parin Shirishkumar Bhavsar as an Independent Director strengthen the company's compliance framework in light of recent regulatory scrutiny? fuzz it ScanX News Svarnim Trade Udyog appoints new chairperson, reshuffles board committees 1 min read | Published on 12 Aug 2026, 12:11 PM | Updated on 12 Aug 2026, 12:11 PM Reviewed by Add as a preferred source on Google *this image is generated using AI for illustrative purposes only. Svarnim Trade Udyog Limited has disclosed that M/s. B B Gusani & Associates has resigned from its role as Internal Auditor, effective August 11, 2026. The firm attributed the decision to pre-occupation with other professional assignments, a standard operational shift that requires the company to appoint a successor to maintain compliance with statutory audit requirements. The resignation was communicated to the Board of Directors on August 11, 2026, by Bhargav Gusani, Proprietor of M/s. B B Gusani & Associates. In a letter dated August 11, 2026, the firm thanked the senior management for the opportunity and cooperation extended during their tenure. The company subsequently intimated the stock exchanges regarding the change in internal audit function. Regulatory Disclosures The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company confirmed that M/s. B B Gusani & Associates stated there were no other material reasons for the resignation beyond those explicitly mentioned in the resignation letter. Particulars Details Name M/s. B B Gusani & Associates Designation Internal Auditor Reason for Change Resignation due to pre-occupation with other professional assignments Date of Cessation August 11, 2026 Material Reasons None other than those stated in the resignation letter Company Response Surbhi Aggarwal, Whole-time Director of Svarnim Trade Udyog Limited, signed the intimation to the Bombay Stock Exchange and the Metropolitan Stock Exchange of India Limited on August 12, 2026. The filing included Annexure A, which detailed the specific reasons for the change and confirmed the absence of any undisclosed material issues between the firm and the company. What This Means for Compliance The departure of an internal auditor necessitates the prompt appointment of a replacement to ensure continuous oversight of the company's financial controls and compliance mechanisms. While the reason cited is professional workload management rather than a dispute or governance issue, shareholders should monitor subsequent filings for the appointment of a new internal auditor to ensure no gap in audit coverage. Historical Stock Returns for Svarnim Trade Udyog 1 Day 5 Days 1 Month 6 Months 1 Year 5 Years 0.0% 0.0% 0.0% - 0. 87 % 0.0% - 95. 27 % Who has Svarnim Trade Udyog Limited appointed as the new Internal Auditor to replace M/s. B B Gusani & Associates? fuzz it What is the expected timeline for the new auditor to assume full responsibilities and ensure seamless compliance continuity? fuzz it Will the change in internal audit firm impact the scheduling or scope of upcoming statutory audits for the fiscal year? fuzz it view all