SJ Corp completes control change, sells Surat land for ₹1.40 cr
The new management takes the helm with a land sale to fund operations, as the old promoters and CFO exit.
What's new
- Board approved FY2026 audited results with an unmodified opinion from SDBA & Co.
- Change of control formalized: Pintu Kanjibhai Kalavadia becomes MD, Prashant Kanjibhai Kalavadia executive director.
- Previous promoters, independent directors, and CFO Ashish Satani resigned; Jagdish Pambhar replaces him.
Why this matters
The filing consolidates a complete overhaul of SJ Corp's leadership and ownership in a single board meeting. Selling a land parcel for working capital signals the new management's first priority is shoring up liquidity at a nano-cap company undergoing a fundamental control change.
What we're watching
- How the new management's capital-allocation strategy differs from the old regime's.
- Whether the office shift to Rajkot signals a broader operational pivot to Gujarat.
- The company's working capital position post-land sale in upcoming quarterly results.
The full read
SJ Corporation has executed a full leadership sweep in a single board meeting. The new owners, Pintu and Prashant Kalavadia, are now installed as MD and executive director respectively, replacing the old promoters and independent directors who have all resigned. The company also swapped its CFO. To fund operations, it's selling a Surat land parcel for ₹1.40 crore. The board approved the FY2026 audited accounts with an unmodified opinion and proposed moving the registered office from Mumbai to Rajkot. For a nano-cap, this is a total reset: new control, new management, a liquidity infusion, and a new home base.
Questions answered
- Who are the new controlling owners of SJ Corporation?
- Pintu Kanjibhai Kalavadia has been appointed managing director, and Prashant Kanjibhai Kalavadia as executive director, formalizing their control of the company.
- Why is the company selling a land parcel in Surat?
- The board approved selling the Kosmada, Surat land for ₹1.40 crores specifically to generate funds for working capital.
- What is the status of the previous management team?
- The old promoters and all independent directors have resigned. CFO Ashish Satani has also left, replaced by Jagdish Pambhar.
- Where is the company's registered office moving?
- The board has proposed shifting the registered office from Mumbai to Rajkot, Gujarat.