ITD Cementation India Limited Announces Management Changes

ITD Cementation India Limited announced on the recommendation of the Nomination and Remuneration Committee and Audit Committee, the Board of Directors, at its Meeting held on 28 May 2025 have considered and approved the appointment of Mr. Nitesh Sharma as Key Managerial Personnel of the Company with effect from 16 June 2025. Mr. Nitesh Sharma has post qualification (CA) experience of 23 plus years. Presently, he is associated with Adani Connex Private Limited as Associate Vice President & Finance Controller.

As Associate Vice President and Finance Controller, his key responsibilities as under. Financial reporting, Planning & analysis, Project financing and borrowing, Treasury Management, Capex, Business development, Customer acquisitions, Contract negotiations, Strategic planning, Forecasting and budgeting, and Taxation and policy advocacy. Resignation of Mr. Prasad Patwardhan as Key Managerial Personnel.

Mr. Prasad Patwardhan, vide letter dated 28 May 2025, has resigned from the position of Key Managerial Personnel of the Company to take effect from the close of business hours of 31 May 2025, on account of personal and professional goals outside the organization. Mr. Piyachai Karnasuta has tendered his resignation from the Board of the Company from the position of Non-Executive - Non-Independent Director and Chairman of the Company, with effect from the conclusion of the Board meeting on 29 May 2025, pursuant to sale and transfer of entire shareholding of Italian Thai Development Public Company Limited, Promoter of the Company to Renew Exim DMCC, and consequent change of ownership and control of the Company. Therefore, he also ceases to be a member of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee and Chairman of Corporate Social Responsibility Committee.

Mr. Santi Jongkongka, Whole time Director designated as Executive Vice Chairman, has tendered his resignation from the Board of the Company, with effect from the conclusion of the Board meeting on 29 May 2025, pursuant to sale and transfer of entire shareholding of Italian Thai Development Public Company Limited, Promoter of the Company to Renew Exim DMCC, and consequent change of ownership and control of the Company. Therefore, he also ceases to be a member of Stakeholders Relationship Committee Corporate Social Responsibility Committee and Chairman of Risk Management Committee.