Jayesh Bhavsar exits, Ajay Narayan joins Veronica Production board

MUMBAI: Veronica Production Limited has reconstituted its board, accepting the resignation of an independent director and appointing a new non-executive independent director, according to a regulatory filing with BSE Limited on Thursday.

The board accepted the resignation of Jayesh Laxmanbhai Bhavsar, independent director, with effect from the close of business on 22 January, 2026. The company said Bhavsar confirmed there were no material reasons for stepping down beyond those stated in his resignation letter.

In a parallel move, the board appointed Ajay Akhilesh Narayan as an additional director in the category of non-executive independent director for a term of five consecutive years, effective 22 January, 2026. The appointment, recommended by the nomination and remuneration committee, is subject to approvals from regulatory authorities and shareholders at the company’s next annual general meeting.

Ajay Akhilesh Narayan holds a bachelor of arts degree from Bundelkhand University and has over five years’ experience in human resources, administration and accounts.  

The board also approved the reconstitution of its committees, completing a swift governance refresh. The meeting commenced at 11:00 am and concluded at 11:50 pm.