Mumbai : Mahanagar Gas Limited (MGL) has informed the stock exchanges about a change in its Board of Directors, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The disclosure was submitted to both BSE Limited and the National Stock Exchange of India Limited.
Sandeep Kumar Gupta Steps Down as Chairman
Shri Sandeep Kumar Gupta (DIN: 07570165) will cease to be the Chairman and Director of the Company with effect from March 1, 2026, following the withdrawal of his nomination by GAIL (India) Limited through a letter dated February 27, 2026.
Consequently, he will also step down from various Board Committees of MGL from the same date. The Company acknowledged his valuable contributions, leadership, and strategic guidance during his tenure as Chairman.
Deepak Gupta Appointed as Chairman
Based on the recommendation of the Nomination and Remuneration Committee, the Board has approved the appointment of Shri Deepak Gupta (DIN: 09503339) as an Additional Director in the category of Non-Executive Non-Independent Director. He has been designated as the Chairman of the Company, effective March 1, 2026, subject to shareholders’ approval and further directions from GAIL.
Profile of the New Chairman
Shri Deepak Gupta is a seasoned Mechanical Engineer from Delhi College of Engineering (now Delhi Technological University) with over 35 years of experience in the oil and gas sector. He is a certified Project Management Professional (PMP®) from the Project Management Institute (PMI), USA.
His expertise spans project execution, construction management, and business development across the hydrocarbon value chain. He has successfully led large-scale projects under EPC (LSTK), EPCM, OBE, and PMC models.
Among his key achievements, Shri Gupta played a critical role in the execution of the $19 billion Dangote Refinery and Petrochemical Complex in Nigeria—the world’s largest single-train greenfield refinery. He also led the HMEL Bhatinda Polymer Project in India and contributed to the development of Mongolia’s first greenfield refinery, reinforcing India’s global energy footprint.
Regulatory Confirmation
MGL confirmed that Shri Deepak Gupta is not related to any Director of the Company and is not debarred from holding the office of Director by any order of SEBI or any other authority.
The Company stated that the disclosure has been made in accordance with applicable SEBI regulations and is for the information and records of the stock exchanges.
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