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Dhanuka Commercial managing director, CFO step down

Mahesh Kumar Dhanuka stepped down as managing director of India-based Dhanuka Commercial Ltd., among other personnel changes.

Meanwhile, Sanjeev Mittal resigned as chairman and CFO of the Indian nonbanking financial company. Mittal was redesignated a nonexecutive director.

Dhanuka, Gopal Krishan Bansal, Mukesh Bansal and Rajni Garg also resigned from the company's board. They were replaced by Govind Gupta and Deepak Aggarwal, who were named nonexecutive directors, and Prashant Agarwal and Mayur Modi, who were named executive directors.

The personnel changes follow Moneyboxx Capital Pvt. Ltd.'s completion of its acquisition of a 71.21% stake in Dhanuka Commercial.