Sula Vineyards has received the Central Government’s approval for the re-appointment of Mr. Rajeev Samant as the Managing Director and Chief Executive Officer for a three-year term. This approval, granted on 20th March 2026, follows previous endorsements by the company’s board and shareholders.
The re-appointment of Mr. Samant, who qualifies as a non-resident under applicable provisions, required special approval as it did not conform to the conditions specified under Schedule V of the Companies Act, 2013. Consequently, Sula Vineyards submitted the necessary application to the Ministry of Corporate Affairs to secure this approval.
The board of Sula Vineyards initially approved Mr. Samant’s re-appointment during a meeting on 10th November 2025. Subsequently, the shareholders ratified this decision through a postal ballot on 12th December 2025. However, both approvals were contingent upon receiving the Central Government’s consent.
With the Central Government’s approval now in place, Mr. Samant’s tenure as Managing Director and Chief Executive Officer will commence on 1st April 2026 and extend until 31st March 2029.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by News Desk before publication.