Chandrima Mercantiles Limited, listed on BSE under the code 540829, announced significant corporate changes in a Board Meeting held on 21st April 2025. These changes were formally disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting, which took place at the registered office in Ahmedabad, brought forth a series of major shifts in leadership and governance structures.

1. Appointment of Mr. Dinesh Hareshbhai Gohel as Managing Director and CFO

In a decisive move, Mr. Dinesh Hareshbhai Gohel has been appointed as the Managing Director and also as the Chief Financial Officer (CFO) of the company with effect from 21st April 2025.

Mr. Gohel, who holds Director Identification Number (DIN) 11061856, brings extensive experience in the agriculture and agri-business sector. His expertise spans across finance, operations, and strategic planning, making him a valuable addition to the executive leadership. According to the official disclosure, he is not related to any other directors of the Company.

This dual appointment signifies the company's trust in Mr. Gohel’s multifaceted capabilities to lead and manage financial operations, strategic growth, and operational efficiency simultaneously. The appointment is expected to enhance the corporate governance structure and instill renewed strategic direction for Chandrima Mercantiles Limited.

2. Change in Designation and Resignation of Mr. Pranav Kamleshkumar Trivedi

The company also approved the change in designation of Mr. Pranav Kamleshkumar Trivedi (DIN: 09218324) from Managing Director to Executive Director, effective from the same date — 21st April 2025.

Mr. Trivedi, who has over two years of experience in agriculture-related operations and financial management, has been a key part of the company’s leadership. This shift in designation suggests a possible repositioning within the company’s operational and strategic framework.

Additionally, Mr. Trivedi has resigned from the position of CFO citing personal reasons. In his resignation letter addressed to the Board, Mr. Trivedi expressed gratitude for the opportunity to serve the company in a financial leadership role but clarified his inability to continue due to personal commitments. He also confirmed that there are no other material reasons for his resignation beyond those stated in the letter.

Such a resignation, although cordial and well-acknowledged by the board, comes at a pivotal time of strategic reconstitution, indicating the company’s willingness to embrace change while ensuring continuity through internal restructuring.

3. Reconstitution of the Audit Committee

One of the other important resolutions passed during the meeting was the reconstitution of the Audit Committee, which plays a critical role in overseeing financial reporting and disclosure. The newly constituted committee comprises:

• Ms. Chetna – Chairperson, continuing as a Non-Executive Independent Director

• Mr. Parin Shirishkumar Bhavsar – Member, Non-Executive Independent Director

• Mr. Dinesh Hareshbhai Gohel – Member, Managing Director

This reconstitution, incorporating the newly appointed Managing Director, aims to ensure a strong oversight on financial controls, risk management, and internal audit processes in line with SEBI’s expectations.

4. Regulatory Compliance and Disclosures

The company has submitted all relevant disclosures as per SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July 2023, which outlines the manner and details required to be disclosed for changes in key managerial personnel.

Each aspect, from the profile and background of appointees to reasons for resignation and changes in designation, has been transparently laid out. The company has also provided confirmations from outgoing personnel that no material concerns or grievances are being withheld.

5. Summary of Board Meeting Outcomes

Here is a concise summary of the key decisions made during the board meeting held on 21st April 2025, from 5:25 PM to 5:45 PM:

• Appointment of Mr. Dinesh Hareshbhai Gohel as Managing Director and Chief Financial Officer.

• Change in designation of Mr. Pranav Trivedi from Managing Director to Executive Director.

• Acceptance of resignation of Mr. Trivedi from the position of CFO.

• Reconstitution of Audit Committee, incorporating the new MD and continuing with independent directors.

The official letter of resignation from Mr. Trivedi was also attached with the disclosure, reiterating professionalism and integrity in the transition process.

6. Implications for Stakeholders and Investors

For stakeholders and investors, this set of changes marks an important phase in Chandrima Mercantiles’ journey. The appointment of a single individual as both MD and CFO reflects trust and efficiency, but also necessitates enhanced internal checks and compliance rigor to ensure no conflict of interest or governance risks arise.

The independent audit committee structure, continued presence of seasoned professionals, and timely disclosures provide a framework to maintain transparency and uphold investor confidence.

Moving forward, the market will observe the performance of Mr. Gohel closely, especially how he manages dual responsibilities and navigates the company through operational and financial growth.

Conclusion

In conclusion, the board meeting held on 21st April 2025 has brought about significant changes in the top-level management at Chandrima Mercantiles Limited. With the appointment of Mr. Dinesh Gohel as both MD and CFO, and the repositioning of Mr. Pranav Trivedi as Executive Director along with his resignation as CFO, the company is heading into a new strategic direction.

The changes aim to bolster the company's leadership bandwidth and sharpen its focus on growth, governance, and stakeholder trust. Only time will tell how effectively these transitions translate into long-term benefits for the company and its shareholders.

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