The Board of Directors, at their meeting held on Wednesday, 2nd September, 2026, approved the change in designation based on the recommendation of the Nomination and Remuneration Committee. Mr. Joshi's resignation from the role of Managing Director was accepted, effective from the close of business hours on 2nd September, 2026.
Mr. Joshi will continue to serve on the Board of Directors as a Promoter Non-Executive Director of the Company. The resignation was tendered due to personal reasons, as stated in his resignation letter dated 2nd September, 2026.
Key Details from Annexure A:
- Name: Mr. Ram Swaroop Joshi
- DIN: 07184085
- Reason for Change: Resignation from office of Managing Director due to personal reasons
- Date of Cessation as Managing Director: 02-09-2026
- Relationships of Directors inter-se: None
- Brief Profile: Mr. Joshi served as Managing Director since 2022 and possesses over 30 years of experience in production and marketing
- Remuneration in Changed Role: Nil
- Other Listed Entity Directorships: None (Directorship - Nil, Committee Positions - Nil)
- Confirmation: Mr. Joshi confirmed there are no other material reasons for resignation beyond those stated
Resignation Letter Details:
In his resignation letter addressed to the Board of Directors, Mr. Joshi explicitly stated:
- Resignation effective close of business hours on 2nd September, 2026
- No material reasons other than personal reasons for resignation
- No disagreement with the Company on any matter relating to operations, financial statements, policies, or practices
- Willingness to continue as Promoter Non-Executive Director subject to necessary approvals