Indu Nagar to join Simplex Castings board after Ushma Khabaria’s retirement

Simplex Castings Ltd., a renowned player in the Indian manufacturing sector, recently announced a significant shift in its leadership as the company prepares to welcome Ms. Indu Nagar to the board as an independent director. This decision comes as a result of the retirement of Ms. Ushma Khabaria, who served as a non-executive independent director for five consecutive years, completing her tenure on September 30, 2024. Ms. Nagar’s appointment is slated to take effect from October 1, 2024, and will extend through September 2029, marking a new era for the company.

The transition, confirmed during the company’s 44th Annual General Meeting on September 28, 2024, is being celebrated as a positive move towards fortifying the company’s leadership. Simplex Castings Ltd., which has a wide presence across multiple locations including Mumbai, Kolkata, and Bhilai, as well as an impressive record in casting and manufacturing, sees this appointment as pivotal for its next growth phase.

Ms. Indu Nagar, a legal expert with a Bachelor of Laws (LLB) from Dr. Bhimrao Ambedkar Law University in Jaipur and a Bachelor of Business Administration (BBA) from Poddar Institute of Technology, has amassed extensive experience in advisory roles, particularly with a focus on financial and legal matters. Her firm, C.K. Nagar & Associates, has gained considerable recognition for its effective liaising and advisory services, serving top-tier businesses across the country. Ms. Nagar is expected to bring a fresh legal and strategic perspective to Simplex Castings, contributing to the company’s compliance and governance structures.

The outgoing director, Ms. Ushma Khabaria, has been praised for her contributions to the board over the past five years. Under her tenure, the company has seen improvements in corporate governance and board oversight. Her exit marks the conclusion of her second five-year term, which, under SEBI regulations, necessitates a change.

Industry experts have lauded the choice of Ms. Nagar as an independent director, citing her background in law and business as highly beneficial for Simplex Castings, a company navigating an increasingly complex regulatory environment. A senior analyst noted that Nagar’s deep understanding of the legal landscape, coupled with her advisory prowess, will likely ensure that the company maintains strong compliance and continues to grow within a competitive sector. “Her involvement in Simplex Castings will potentially strengthen the company’s governance and operational frameworks,” the analyst stated, emphasizing the critical role of legal expertise in today’s corporate world.

As Simplex Castings continues to build on its legacy, this appointment highlights the importance of steady leadership and the company’s commitment to staying ahead of the curve in both regulatory adherence and strategic innovation. With her five-year term ahead, Ms. Nagar’s legal acumen and business insight are anticipated to leave a lasting impact on the company’s future trajectory.