Overview

• Nishant Pitti was named Chairman and Managing Director by the board, with the appointment contingent on a shareholder vote.
• Pitti will lead long-term strategy with an emphasis on business expansion and strengthening stakeholder value.
• Prashant Pitti stepped away from day-to-day responsibilities to pursue new ventures and public-good initiatives while remaining a promoter.
• The board cleared a 50% stake in Three Falcons Notting Hill Limited, a 100% stake in AB Finance Private Limited for a Gurugram commercial property, and granted in-principle approval for an investment in VBIL.
• The company reaffirmed promoter-alignment commitments, stating promoters will not sell shares and will draw no salary.