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Vadilal independent director and chairman Shivakumar Dega steps down
Resignation takes effect immediately, filing made on 18 February
GUJARAT: Vadilal Industries has reported the immediate resignation of Shivakumar Dega from his role as independent director and chairman, marking a board-level leadership change at the ice cream and frozen dessert manufacturer.
The resignation was tendered on 17 February, 2026, with immediate effect, the company said in a regulatory filing made to stock exchanges a day later. Vadilal Industries disclosed the development in line with its obligations under Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements.
The company stated that the disclosure was made under Regulation 30(6) of the Sebi LODR Regulations, 2015, which requires listed entities to promptly inform the market of material events, including changes in board composition.
Vadilal Industries also said that additional disclosures required under sub-clause 7(B) of Clause A, Part A of Schedule III of the regulations would be filed separately within the prescribed timeline.
The filing was signed by company secretary Rashmi Bhatt, confirming compliance with applicable corporate governance and disclosure norms.
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Trump announces $300bn Texas oil refinery with Reliance, calls it the biggest in US history
First new US refinery in 50 years planned at Brownsville port with Reliance
WASHINGTON: The United States may soon see the first brand-new oil refinery built on its soil in half a century.
Donald Trump announced a proposed $300 billion refinery project in Texas, calling it a landmark moment for American energy production and jobs.
Posting on Truth Social on 10 March, Trump said the facility would be built at the Port of Brownsville and developed by a company called America First Refining, with major investment from India’s Reliance Industries.
The announcement frames the project as a centrepiece of the administration’s push for “energy dominance”, with Trump claiming it would deliver thousands of jobs and billions of dollars in economic activity to South Texas.
If realised, the plant would mark the first all-new major refinery constructed in the United States since the 1970s. In recent decades, oil companies have largely chosen to expand existing facilities rather than build new ones, citing high costs, regulatory hurdles and environmental scrutiny.
Trump described the proposed investment as the “biggest in US history”, positioning it as proof that policy changes such as streamlined permits and lower taxes are drawing large-scale energy investments back into the country.
The refinery is planned for the Port of Brownsville, a strategic Gulf Coast location that provides easy access to shipping routes and export markets.
A key partner in the project is Reliance Industries, controlled by billionaire industrialist Mukesh Ambani. The company already runs the world’s largest refining complex in Jamnagar, India, making it one of the most experienced operators in large-scale petroleum processing.
The Texas venture would mark a significant step for the group into America’s domestic refining sector, potentially strengthening industrial ties between the US and India.
The proposed refinery is being promoted as a next-generation facility capable of processing American shale oil while maintaining high environmental standards. Trump said it would be “the cleanest refinery in the world”, although the specific technologies behind that claim have not yet been detailed.
Industry observers also note that the $300 billion figure is unusually large for a refinery project, and analysts are waiting for more clarity on whether the number reflects total construction costs, long-term infrastructure investment, or broader economic impact estimates.
As of 11 March, Reliance Industries had not publicly confirmed the investment size or the structure of its involvement.
For now, the announcement has sparked equal parts excitement and curiosity in energy markets. If the plan moves from promise to pouring concrete, the refinery could reshape the Gulf Coast energy landscape, and reopen a chapter in American refining that has been quiet for nearly fifty years.
