Oswal Greentech board reshuffle: CFO quits in 2026

Key update: CFO resigns effective 2 June 2026

Oswal Greentech Limited informed exchanges that its Chief Financial Officer, Mr. Moxit Modi, has resigned. The resignation is effective 2 June 2026. The company stated that the CFO cited personal and family commitments as the reason for stepping down.

For investors, a CFO change is closely watched because the role oversees financial reporting, compliance, and investor communication. The filing does not mention any successor appointment alongside the resignation update. It also does not provide details on transition arrangements beyond the effective date.

Risk Management Committee dissolved from 12 February 2026

In another governance update, Oswal Greentech said its Risk Management Committee was dissolved with effect from 12 February 2026. The decision was taken by the Board of Directors.

The company did not provide additional detail in the shared text on why the committee was dissolved or how risk oversight responsibilities will be handled after the dissolution. Still, the disclosure is relevant because committee structures form a key part of listed-company governance reporting under SEBI’s listing framework.

Board and governance changes highlighted around the AGM

The company’s AGM also saw the appointment of four independent directors, each appointed for a five-year term, according to the provided details. The appointments add new profiles to the board, spanning compliance, finance, and industry experience.

The four independent directors named were:

1. Mrs. Kiran Vohra
2. Mrs. Isha Deepak Shah
3. Mr. Gaurav Chawla
4. Mr. Umang Kaushik Shah

The company’s summary described these directors’ backgrounds in executive search and business development, corporate compliance and restructuring, sales and marketing in logistics and warehousing, and chartered accountancy with taxation and audit experience.

Who are the newly appointed independent directors?

Mrs. Kiran Vohra was described as an entrepreneur with over 10 years of experience in executive search, with expertise in strategic planning and business development. Mrs. Isha Deepak Shah was described as a practicing company secretary with 13 years of experience in corporate compliance, including capital raising and corporate restructuring.

Mr. Gaurav Chawla was described as a commerce graduate with experience in sales and marketing within the logistics and warehousing industry. Mr. Umang Kaushik Shah was described as a chartered accountant with expertise in direct taxation, statutory audits, and regulatory advisory across sectors.

These profiles matter because independent directors are expected to strengthen board oversight, particularly in areas such as audit, governance, and shareholder protection.

Reported board list and designations in the disclosure

The provided material included names and designations presented in tabular form. It listed Aruna Oswal as Chairperson and Whole Time Director, and Shael Oswal as Vice Chairman and Director. It also listed the four independent directors named above.

A separate “Composition of the Board of Directors: Oswal Greentech Limited” table included entries such as Aruna Oswal (Chairman, age 74, since 02/04/2016), Akhil Bansal (Director/Board Member, since 13/08/2021), Pulkit Gupta (Director/Board Member, age 35, since 06/11/2020), and Shipra Shroff (Director/Board Member, age 51, since 12/06/2024). The same source excerpt shows ellipses, indicating the list may not be complete in the shared text.

Earlier changes: independent director resignation and replacement (2024)

Oswal Greentech previously disclosed that Mrs. Shikha Jain (DIN: 02615074), a Non-executive and Independent Director, resigned as director with effect from 8 April 2024 due to personal reasons. The disclosure references an “Announcement under Regulation 30 (LODR)” on BSE India relating to the resignation.

Subsequently, the Board of Directors, based on the recommendation of the Nomination & Remuneration Committee, appointed Mrs. Shipra Shroff (DIN: 10630750) as Non-executive and Independent Director with effect from 12 June 2024 for an initial term of five years. The text notes this appointment would be placed for shareholders’ approval at the upcoming 42nd AGM.

Senior management change in 2025: MD and CEO stepped down

The shared material also records that at its Board meeting held on 21 May 2025, Oswal Greentech considered and approved the resignation of Mr. Anil Kumar Bhalla (DIN: 00587533) as Managing Director and Chief Executive Officer. The resignation was effective from the close of 31 May 2025, and it also ended his status as Key Managerial Personnel under the Companies Act, 2013 and SEBI Listing Regulations.

The company stated that Mr. Bhalla decided to step down due to other personal commitments, and that his last day of employment would be 31 May 2025.

Vice-chairman appointment effective 1 June 2025

In the same 21 May 2025 board meeting, the company approved the appointment of Mr. Shael Oswal (DIN: 00256956) as an Additional Director. He was designated as a Non-Executive Non-Independent Director and Vice-Chairman, effective 1 June 2025.

This sequence is important because it shows how the board moved to fill leadership roles immediately after the MD and CEO’s exit, at least at the board level.

Snapshot table: key dates and disclosures

Company contact and registered address mentioned

The provided text included Oswal Greentech’s registered address as Near Jain Colony, Vijay Inder Nagar, Daba Road, Ludhiana, Punjab, 141003. It listed a telephone number 0161-2544238 and an email address oswal@oswalgreens.com, along with the website http://www.oswalgreens.com.

It also referenced an address in New Delhi: Oswal Greentech Ltd., Antriksh Bhawan 22, Kasturba Gandhi Marg, 110001, New Delhi, with a phone number +91 11 2371 5242 and the same website. Another set of telephone numbers was also shown: 011-26292682, 26292683, 30857575 (10 Lines).

Market context: stock price mentioned in the text

The shared material included a line stating: “The current price of Oswal Green Tech Ltd is ₹ 22.85.” The text does not specify the date or time of this price reference. As with any price snapshot, investors typically cross-check with exchange data for real-time levels.

Why these disclosures matter

Taken together, the updates point to continued churn in key roles across 2024 to 2026, spanning an independent director exit, a new independent director appointment, the MD and CEO’s resignation, a vice-chairman appointment, and now the CFO’s resignation. Separately, the dissolution of the Risk Management Committee is a governance change that shareholders may track for clarity on oversight structures.

The company’s disclosures referenced board and committee processes such as recommendations from the Nomination & Remuneration Committee and Regulation 30 (LODR) filings, indicating these changes were routed through formal compliance channels.

Conclusion

Oswal Greentech’s latest update confirms the CFO’s resignation effective 2 June 2026 and the dissolution of the Risk Management Committee effective 12 February 2026, alongside previously disclosed board and leadership changes. The next set of investor focus points will typically be any announcement on CFO succession and any further clarification on how risk oversight will be handled after the committee’s dissolution.