Global Infratech & Finance Limited (CIN: L65921MH1995PLC248335) has made significant changes to its leadership structure in its board meeting held on December 3, 2024. The company appointed Mr. Mohit Bajaj as the new Managing Director (MD), effective immediately. His appointment is part of a broader restructuring plan that will also see him take on the role of Chief Financial Officer (CFO), in addition to his executive responsibilities.

Furthermore, Mr. Biral Nareshbhai Patel, Mr. Shailesh K Kalal, and Ms. Tanya Kalal Chaudhary have been appointed as Independent Directors, each bringing valuable experience to the company. These appointments are subject to the approval of the company’s shareholders during the Annual General Meeting (AGM) or Extraordinary General Meeting (EOGM).

Resignations and Management Changes

In a significant move, Mrs. Sarita Pradeep Bissa, Mr. Shravan Magan Sangale, and Mr. Sonu Tiwari resigned from the board following the approval of a resolution plan by the National Company Law Tribunal (NCLT) on November 25, 2024. Their resignation has been accepted by the board as the company transitions into a new phase of management and strategy.

Additionally, Mr. Chandrasekhar G. Purohit, the outgoing CFO, has tendered his resignation following the change in management post-NCLT’s resolution plan approval. His resignation marks the completion of his tenure with the company, which began under different leadership.

Deferred Decision on Registered Office Relocation

The company’s decision to relocate its registered office has been deferred for the time being. Despite plans to move to a new location, the company is still in search of a suitable place for its registered office and will revisit this decision at a later date.

These changes come as part of Global Infratech & Finance Limited's effort to revitalize its governance and operations in the aftermath of the corporate restructuring process overseen by NCLT. The company’s management team is now poised to steer the organization toward new opportunities and growth, leveraging the leadership of the newly appointed executives.

As these developments unfold, shareholders and stakeholders will be closely monitoring the company’s performance and governance standards. The company’s growth strategy includes increasing operational efficiency, optimizing financial resources, and enhancing shareholder value.

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