Afloat Enterprises Announces Board and Management Overhaul

Following a board meeting on October 14, 2026, Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited) has confirmed significant changes to its leadership and key managerial personnel.

Reader Takeaway: New leadership team takes charge immediately; previous management departures cited as personal reasons for the transition.

What just happened

The company has finalized the resignation of Mr. Pawan Kumar Mittal from his post as Non-Executive Non-Independent Director. Simultaneously, Ms. Anshu Aggarwal has stepped down from her dual roles as Chief Executive Officer and Chief Financial Officer. To fill these voids, the board has appointed Mr. Ashish Kumar as the new Chief Executive Officer and Ms. Seema Kushwaha as the Company Secretary and Compliance Officer, effective October 14, 2026.

Why this matters

Leadership changes at the KMP level signal a strategic shift in the company’s internal governance and administrative oversight. The departure of both the CEO and CFO suggests a major reshuffle, while the introduction of specialized talent in audit and secretarial compliance reflects an increased focus on regulatory adherence and internal risk management.

New Leadership Profiles

• Mr. Ashish Kumar (CEO): Brings seven years of experience in internal audit, financial review, risk assessment, and management advisory. His background indicates a focus on bolstering the company's internal control frameworks.

• Ms. Seema Kushwaha (CS): A qualified Company Secretary with expertise in corporate law and regulatory compliance, she will be responsible for ensuring the company remains aligned with evolving exchange requirements.

What to track next

Investors should monitor the impact of this new management team on the company's financial reporting accuracy and operational consistency. The focus remains on how the newly appointed leadership stabilizes the company following the dual resignation of the former CEO and CFO.