Mumbai: Mahanagar Gas Limited (MGL), a leading city gas distribution company, has announced significant changes in its Board of Directors effective March 1, 2026. Mr. Sandeep Kumar Gupta will step down as Chairman and Director following the withdrawal of GAIL (India) Limited’s nomination, while Mr. Deepak Gupta has been appointed as the new Non-Executive Non-Independent Chairman.
Cessation of Sandeep Kumar Gupta as Chairman
Mr. Sandeep Kumar Gupta (DIN: 07570165) will cease to hold the position of Chairman and Director from March 1, 2026. The cessation follows a nomination withdrawal by GAIL India Limited dated February 27, 2026. He will also step down from his roles in various Board committees.
MGL acknowledged Mr. Gupta’s significant contribution, leadership, and strategic guidance during his tenure, highlighting the positive impact of his decisions on the company’s growth and operations.
Appointment of Deepak Gupta as New Chairman
The Board, based on the recommendation of the Nomination and Remuneration Committee, approved Mr. Deepak Gupta (DIN: 09503339) as an Additional Director and designated him as Non-Executive Non-Independent Chairman of MGL, effective March 1, 2026, pending shareholder approval.
Mr. Deepak Gupta is a distinguished Mechanical Engineer from Delhi College of Engineering (now DTU) with over 35 years of extensive experience in the oil and gas sector. He is also a certified Project Management Professional (PMP®) from PMI, USA.
Profile and Experience of Deepak Gupta
Mr. Gupta has led numerous large-scale projects across India and globally, including:
- The $19 billion Dangote Refinery and Petrochemical Complex in Nigeria, the world’s largest single-train greenfield refinery.
- The HMEL Bhatinda Polymer Project in India.
- Mongolia’s first greenfield refinery project, boosting India’s international energy footprint.
His expertise spans project management, construction management, and business development across the hydrocarbon value chain, with extensive experience in EPC (LSTK), EPCM, OBE, and PMC project implementation models.
The company confirmed that Mr. Deepak Gupta is not related to any current director of MGL and is not debarred by SEBI or any regulatory authority from holding a directorship.
Compliance and Regulatory Disclosure
MGL has informed both BSE Limited and the National Stock Exchange of India (NSE) about the changes in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under Regulation 30. These disclosures are for public record and regulatory transparency.
About Mahanagar Gas Limited (MGL)
Mahanagar Gas Limited is a leading city gas distribution company in India, providing piped natural gas (PNG) and compressed natural gas (CNG) across Maharashtra. The company focuses on sustainable energy solutions and efficient gas distribution infrastructure, serving residential, commercial, and industrial customers.
