Pankaj Polymers replaces entire board after Kredmint takeover

Tipsheet Editorial — Tue, 09 Jun 2026 17:57:25 GMT

New owner installs five-member board with ex-RBI official, ex-Bharti Airtel CEO at a ₹35 cr nano-cap.

What’s new

Mayank Chawla, former Bharti Airtel and Paytm executive, named CEO for five years.
Kredmint co-founders Vikas Garg and Rahul Nagar join as non-executive directors.
Two independent directors added, including a former RBI chief general manager.

Why it matters

For a ₹35 crore nano-cap, this is a complete governance reset. The incoming owners have recruited a former RBI official and a tech-sector CEO rather than cronies, signalling intent to professionalise. The Noida office formalises the geographic shift away from Secunderabad.

What we’re watching

Whether Chawla's operational plan for Pankaj Polymers emerges in the next quarters.
How the new board reshapes capital allocation at a company this small.
Any further disclosure on the Kredmint founders' business strategy.

The full read

Pankaj Polymers has ₹35 crore of market capitalisation and, until today, a board that presumably matched its scale. That's gone. Mayank Chawla, who ran businesses at Bharti Airtel and Paytm, is now CEO for five years. The two new non-executive directors are Vikas Garg and Rahul Nagar, co-founders of Kredmint and the people who just acquired control. A former RBI chief general manager with 36 years of central-banking experience is now the most senior independent director. A Noida corporate office is being set up. This is a complete teardown and rebuild of a ₹35 crore company's governance in one filing. The new team is overqualified for the job. What they plan to do with a company this small is the open question.

Primary source: BSE · NSE

Pankaj Polymers' auditor quits weeks after new owners took control

Tipsheet Editorial — Fri, 29 May 2026 19:56:26 GMT

Luharuka & Associates resigned on May 29, citing prior commitments. The move follows a majority stake acquisition by new promoters via a share purchase and open offer.

What’s new

Auditor Luharuka & Associates resigned on May 29, 2026, citing prior commitments.
The exit comes shortly after new promoters completed a majority-stake acquisition via SPA and open offer.
The auditor said it found no management concerns or undisclosed material reasons for the departure.

Why it matters

This is a standard procedural step after a change of control. The real signal will come from the replacement appointment. For a ₹38 crore company, the new auditor's standing is a proxy for the new owners' governance priorities.

What we’re watching

The board's replacement appointment and any change in audit scope or fees.
Whether the new auditor flags any opening adjustments from the change-of-control.
The first set of financial statements audited under the new ownership.

The full read

Luharuka & Associates quit as Pankaj Polymers' auditor on May 29, the same month new promoters took control. The firm cited prior commitments and found no problems with management. For a ₹38 crore company that just changed hands via a share purchase and open offer, that is the standard script. New owners typically install auditors they trust as they consolidate control. The resignation itself is not the story. The replacement is. The board now faces a casual vacancy, and its choice of successor will show whether the new ownership intends clean governance or minimal friction.

Primary source: BSE · NSE

Pankaj Polymers Ltd. (PANKAJPO) — Tipsheet

Pankaj Polymers replaces entire board after Kredmint takeover

What’s new

Why it matters

What we’re watching

The full read

Pankaj Polymers' auditor quits weeks after new owners took control

What’s new

Why it matters

What we’re watching

The full read