Peshwa Wheat changed four company secretaries in 15 months

Peshwa Wheat appointed four people to the company secretary role across 15 calendar months, from March 2024 through June 2025. The prospectus records three resignations before Ritu Jain’s June 1, 2025 appointment as Company Secretary and Compliance Officer, while Peshwa Wheat says key-management and senior-management attrition is not high relative to its industry.

How often did Peshwa Wheat change its company secretary?

Peshwa Wheat recorded four company secretary appointments and three associated resignations from March 22, 2024 to June 1, 2025. Kunika Khandelwal was appointed Company Secretary and Compliance Officer on March 22, 2024 and resigned effective August 15, 2024. Shivani Mishra was appointed the following day, August 16, 2024, as Company Secretary and Compliance Officer.

The sequence continued after Shivani Mishra resigned effective November 11, 2024, citing pre-occupation and other personal reasons. Varsha Sharma was appointed Company Secretary effective January 10, 2025 and resigned effective May 31, 2025 for personal reasons. Ritu Jain then became Company Secretary and Compliance Officer effective June 1, 2025, making her the fourth appointee in the disclosed period.

Why did Peshwa Wheat change four company secretaries in 15 months?

Peshwa Wheat disclosed personal reasons, pre-occupation and other personal reasons for the three resignations, but did not provide further operational detail. Kunika Khandelwal’s August 15, 2024 resignation was attributed to pre-occupation and other personal reasons. Shivani Mishra’s November 11, 2024 departure was recorded for the same reasons, while Varsha Sharma’s May 31, 2025 resignation was stated to be for personal reasons.

The disclosed timetable shows immediate handovers at two points but an interval at one point. Shivani Mishra’s appointment on August 16, 2024 followed Kunika Khandelwal’s effective resignation date of August 15, 2024, and Ritu Jain’s June 1, 2025 appointment followed Varsha Sharma’s May 31, 2025 effective resignation date. The prospectus lists Shivani Mishra’s resignation on November 11, 2024 and Varsha Sharma’s appointment on January 10, 2025, but does not state how the company secretary function was managed between those dates.

What does the company secretary and compliance officer role cover?

The Company Secretary and Compliance Officer is part of Peshwa Wheat’s key managerial personnel, a statutory management category presented in the prospectus alongside the Chief Financial Officer and directors. Peshwa Wheat’s management organisation chart places the Compliance Department under Chairman and Managing Director Rahat Ali Saiyed, whose promoter profile says he manages purchase, sales, marketing, finance, accounting and compliance.

The role also has a committee responsibility at Peshwa Wheat. The Corporate Social Responsibility Committee, re-constituted by a board resolution dated March 19, 2025 under Section 135 of the Companies Act, 2013, states that the Company Secretary and Compliance Officer will act as its secretary. The committee has three directors: independent director Ruchika Gupta as chairperson, non-executive director Shehnaj, and Rahat Ali Saiyed.

The governance structure gives the role a stated responsibility beyond the designated compliance position because the Corporate Social Responsibility Committee must meet at least once in each financial year. Its terms include recommending the corporate social responsibility policy and expenditure to the board, and monitoring that policy over time. The prospectus therefore connects the Company Secretary and Compliance Officer position to the committee-secretary function.

How does the turnover compare with Peshwa Wheat’s attrition statement?

Peshwa Wheat says the attrition rate of its key managerial personnel and senior management is not high compared with the industry in which it operates. The filing does not provide an attrition percentage, an industry benchmark, a defined comparison period or a count of total departures. The disclosed company secretary events can therefore be compared with the statement, but a company-to-industry attrition difference cannot be calculated from the supplied information.

The appointment record is concentrated in one key managerial position. The prospectus lists Ritu Jain as Company Secretary and Compliance Officer and Anshul Garg as Chief Financial Officer, in addition to Chairman and Managing Director Rahat Ali Saiyed and Whole Time Director Sadaf Saiyed. Anshul Garg was appointed Chief Financial Officer on June 15, 2024, the same effective date on which Sadaf Saiyed resigned from that office.

The senior-management disclosures list appointments during 2024 for Aman, Ashu Singh and Danish Khan, with effective dates of January 28, April 12 and February 19 respectively. Peshwa Wheat says there were no other changes in key managerial personnel and senior management in the three years preceding the red herring prospectus filing beyond the events it lists. The filing does not disclose an equivalent sequence of resignations for those three senior-management appointments.

What does Peshwa Wheat disclose about the current appointee and retention terms?

Peshwa Wheat lists Ritu Jain as Company Secretary and Compliance Officer, effective June 1, 2025, with Associate Company Secretary number 68215. The prospectus says she holds a Company Secretary degree from the Institute of Company Secretaries of India, along with Bachelor of Commerce and Master of Commerce degrees from the University of Rajasthan. It gives her more than four years of secretarial and compliance experience.

Peshwa Wheat reports Rs 2.90 lakh of remuneration paid to Ritu Jain in financial year 2025-26. The filing says all named key managerial personnel and senior management are permanent employees, but their employment is governed by employment letters or board resolutions rather than service contracts providing termination benefits. Except for applicable statutory benefits, Peshwa Wheat says none would receive retirement or termination benefits.

Peshwa Wheat also says it has no bonus or profit-sharing plan for key managerial personnel and senior management, and no employee stock option scheme as of the red herring prospectus date. It reports no contingent or deferred compensation outside remuneration and no non-salary benefit paid or intended within the preceding two years other than in the ordinary course of employment. These disclosures describe the stated employment framework but do not identify a retention programme for the Company Secretary and Compliance Officer role.

Conclusion

Peshwa Wheat’s filing shows four appointments to the company secretary position and three resignations from March 22, 2024 through June 1, 2025. The stated reasons were personal reasons or pre-occupation, while Peshwa Wheat’s broader assertion that key-management and senior-management attrition is not high cannot be independently measured because the filing gives no industry rate or numerical benchmark.

The next disclosed matter to watch is whether Ritu Jain remains in the Company Secretary and Compliance Officer position and continues the committee-secretary responsibility assigned to that office. Peshwa Wheat’s stated employment terms provide permanent payroll status and Rs 2.90 lakh of reported financial year 2025-26 remuneration, but disclose no bonus plan, employee stock option scheme or contractual termination benefit.