Magellanic Cloud Limited has made a disclosure to the Bombay Stock Exchange and National Stock Exchange of India regarding the resignation of a director from its board.
The company disclosed that Mr. Ravi Janarthanan (DIN: 02368598), who held the position of Additional Non-Executive, Non-Independent Director, has tendered his resignation from the Board of Directors effective June 03, 2026.
The reason for resignation cited in both the company's disclosure and the director's resignation letter is "personal reasons and other pre-occupations." The annexure to the disclosure specifically states: "There is no other material reason for his resignation other than this."
The disclosure is made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
The Board of Directors and Management have placed on record their sincere appreciation for the valuable guidance, contribution, and support extended by Mr. Janarthanan during his association with the company.
In his resignation letter dated June 01, 2026, addressed to the Board of Directors, Mr. Janarthanan expressed regret for being unable to continue due to personal reasons and other preoccupations. He requested the board to accept his resignation and complete all necessary formalities and filings with the Registrar of Companies and other relevant authorities. He also confirmed that he would remain responsible for all liabilities and obligations incurred during his tenure up to the effective date of his resignation.
The company has stated that this information will be made available on its website at www.magellanic-cloud.com.
The disclosure was signed by Mr. Sameer Rajkumar Lalwani, Company Secretary & Compliance Officer (Membership no. 57275) of Magellanic Cloud Limited.
Financial Impact
No financial impact disclosed in the filing. The disclosure pertains solely to a management change with no mentioned financial implications.