Ashapura Intimates Fashion Limited — Others, 05-03-2025: Appointment

Ashapura Intimates Fashion Limited has announced a board meeting to discuss changes in management following the company’s sale as a going concern under liquidation. Effective March 1, 2025, Nikunj Shah will take on the roles of Managing Director and Chief Financial Officer, bringing over 15 years of experience in trading and finance. Additionally, Het Thakkar, Pooja Patel, and Arzoo Rabari will join as additional directors, with their appointments lasting five years. This restructuring under the new acquirer could signal a turnaround strategy aimed at stabilizing the company, potentially boosting investor sentiment as it seeks to improve its financial health and governance.