Nature of Disclosure: Regulatory filing regarding resignation of non-executive independent director and compliance with SEBI listing requirements.

Key Event: Mr. Ved Prakash (DIN: 02988628), Non-Executive Independent Director of Arshiya Limited, resigned from his position effective February 18, 2026. The resignation was originally tendered via email dated February 18, 2026, but the formal acknowledgment was delayed due to the company's status under Corporate Insolvency Resolution Process (CIRP).

Regulatory Context: The disclosure is made pursuant to Regulation 30 read with Sub-Para 7, 7B Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in compliance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Details:

  • Mr. Ved Prakash ceased to hold the position of Non-Executive Independent Director with effect from February 18, 2026
  • Reason for resignation: The director has been residing in Dubai for more than two years and is unable to devote sufficient time and attention to the company's affairs on a regular basis
  • The director confirmed he had not attended any board meetings physically since his stay in Dubai

Corporate Status: Arshiya Limited is under Corporate Insolvency Resolution Process (CIRP) as admitted by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. During CIRP, the powers of the Board of Directors are suspended and vested in the Resolution Professional.

Processing Delay: The company was unable to formally process the resignation earlier due to statutory and procedural requirements applicable during CIRP. The Resolution Professional formally acknowledged the resignation on February 18, 2026.

Additional Information:

  • The resigning director holds no directorships in other listed entities
  • The company confirms there are no material reasons for the resignation other than those stated by the director
  • The resignation letter and email communications between the Independent Director and Resolution Professional were submitted as part of the filing

Acknowledgement: Email correspondence shows the Resolution Professional, Pankaj Mahajan (IBBI Registration No: IBBI/IPA-001/IP-P00836/2017-2018/11420), acknowledged the resignation on February 18, 2026, and Mr. Ved Prakash confirmed receipt and acknowledgment on February 21, 2026.

Financial Impact: No financial impact disclosed in the filing.