Elitecon International Limited has filed a disclosure under Regulation 30 of SEBI LODR Regulations regarding the resignation of two Non-Executive Independent Directors.
Director Resignation Details
Dr. Venkata Ramesh Penumaka (DIN: 02836069)
- Resignation effective: April 7, 2026
- Position: Non-Executive Independent Director
- Reason for resignation: Concerns relating to corporate governance and recent regulatory developments concerning the Company
- Additional directorships: MIC Electronics Limited (Chairman & Independent Director)
- Confirmation provided: No other material reasons beyond those stated in resignation communication
Mr. Edward Michael Bourgoin (DIN: 10412710)
- Resignation effective: April 27, 2026
- Position: Non-Executive Independent Director
- Reason for resignation: Concerns regarding the availability of information concerning the affairs of the Company and certain governance-related developments
- Additional directorships: None based on company records
- Confirmation status: Requisite confirmation regarding absence of other material reasons not separately provided
Committee Memberships
Both directors ceased to be members or chairpersons of all Board committees from their respective effective dates of resignation.
Disclosure Delay Explanation
The company acknowledges that the resignation communications were inadvertently not processed for disclosure to stock exchanges due to ongoing transition in senior management and compliance function. The omission was identified during a recent review and reconciliation of statutory and compliance records.
Company Response
The company sincerely regrets the delay and is taking appropriate corrective measures to prevent recurrence of such disclosure delays.