Section A – KMP Resignation Details
- Name of Resigning KMP: Mr. Ashok Kalra
- Designation: Managing Director and Director
- Reason for Resignation: To pursue a different business venture which will require his time and attention, preventing full-time commitment to a listed company role
- Effective Date of Resignation: Close of business hours on September 29, 2026
- Date of Resignation Letter: September 29, 2026 (email received at 5:20 p.m.)
- Duration in Role: Not Specified
- Board’s Acknowledgment / Statement: Resignation has not yet been accepted by the Company and shall be placed in the next Board meeting to be convened soon
- Replacement Appointed: Not Specified
- Regulatory Compliance Statement: Disclosure made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Schedule III
- Delay in Disclosure: Not Specified
Analytical Add-On: The resignation appears strategic due to pursuit of other business interests rather than performance-linked or regulatory issues. However, the company notes that no proper handover regarding stock position, financial position, books of accounts, GST, income tax, other statutory compliances has taken place, potentially affecting operational continuity and financial reporting integrity during transition.
Section B – Additional Observations or Disclosures
- Transition & Internal Role Reallocations: The company states that proper handover formalities are yet to be done. Mr. Kalra was required to tender 1 month prior notice before termination of his arrangement as Managing Director.
- Successor Appointments: Not Specified
Section C – Financial & Governance Disclosures
- Audited Financial Results: Not Present
- Auditor’s Report Summary: Not Present
- Dividends / Capital Changes / Buybacks: Not Present
- Board / Committee Updates or Key Appointments: Not Present