Talwalkars Board Appoints New MD, CFO, CS; Confirms Director Cessations
Talwalkars Better Value Fitness Limited appointed Arvind Pradhan Bhanushali as Managing Director and Mr. Satish Kalmaste as CFO. Ms. Pooja Jain was appointed Company Secretary. The NCLT order led to the cessation of five directors and KMPs. The Board also re-constituted committees.
Significant changes in key leadership positions and board composition can have a medium-term impact on the company's strategic direction and governance.
The announcement details routine board changes and appointments following an NCLT order, with no immediate positive or negative financial implications disclosed.
Talwalkars Better Value Fitness Limited announced significant changes to its leadership and board structure following a Board Meeting held on March 16, 2026.
The Board took note of the confirmation of five directors by the Hon’ble National Company Law Tribunal (NCLT), Mumbai, vide its order dated February 26, 2026. These confirmed directors are Arvind Pradhan Bhanushali (Managing Director), Kurjibhai Premjibhai Rupareliya (Executive Director), Shilpa Singh (Non-Executive Director), Priyanshu Sheth (Independent Director), and Jignesh R. Lasaniawala (Independent Director). Their appointments are effective from March 16, 2026.
Concurrently, the Board noted the cessation of office for five directors and Key Managerial Personnel (KMPs) effective March 16, 2026, also pursuant to the NCLT order. Those ceasing office include Vinayak Ratnakar Gawande (Whole-Time Director), Madhukar Vishnu Talwalkar (Whole-Time Director), Girish Madhukar Talwalkar (Managing Director), Abhijeet Rajaram Patil (Independent Director), and Dinesh Srinivas Rao (CFO).
Further strengthening its management team, the Board appointed Ms. Pooja Jain as Company Secretary and Compliance Officer, and Mr. Satish Kalmaste as Chief Financial Officer (CFO), both effective March 16, 2026. Ms. Jain is a qualified Company Secretary with over three years of experience, and Mr. Kalmaste is a Bachelor of Commerce with over 11 years of experience in accounts and finance.
In addition to these appointments and cessations, the Board of Directors has also re-constituted various committees of the Board. The Board Meeting commenced at 4:30 PM and concluded at 5:00 PM.
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Talwalkars Better Value Fitness Limited filed this with the NSE as a statutory disclosure, categorised under board changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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