Nature of the Event
Regulatory disclosure pursuant to Regulation 30 read with Para A of Part A of Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations). The filing intimates the cessation of a Senior Management Personnel due to superannuation.
Key Details of Cessation
Mr. Anil Kumar Chandani, President – Corporate Finance & Strategy & Head Internal Audit (Employee No. A3070), will be relieved of his duties upon attaining the age of superannuation. His cessation is effective at the close of business hours on October 14, 2026. Consequently, he will cease to be a part of the Senior Management of the Company from that date and time.
Background and Tenure
The company's internal relieving letter, dated October 8, 2026 (Ref: IBSL/HR/HO/SA/01/10/2026), formalized the superannuation. Mr. Chandani had a tenure of more than five years with the organisation.
Management Commentary & Rationale
The management acknowledged Mr. Chandani's significant and meaningful contribution to the company's growth and development. His role involved responsibilities in several strategic and important business decisions, particularly during a period of significant organisational growth. The cessation is solely due to reaching the age of superannuation.
Financial & Operational Impact
The disclosure does not quantify any financial impact from this management change. No immediate replacement was announced in the filing.
Signatories and Authentication
The exchange filing was digitally signed by Mr. Arvind Nanda, Managing Director (DIN: 00149426). The internal relieving letter was issued by Mr. Manish Garg, Executive Director & CEO.