The resignation is effective immediately from November 12, 2026, as per his resignation letter dated the same day. The reason for cessation is resignation due to personal reasons.
In his resignation letter addressed to Chairman Mr. Uday Tardalkar and the Board of Directors, Mr. Parulkar stated his decision was motivated by his personal friendship with the Late Mr. Purvesh Shelatkar. Following Mr. Shelatkar's demise, and given his background as a former airline pilot without formal business or financial expertise, he believed it appropriate to step down.
The company has confirmed that there are no other material reasons for his resignation beyond those stated. Mr. Parulkar held no shareholding in the company at the time of resignation.
The disclosure includes reference to SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Mr. Parulkar has requested the company to file necessary statutory forms (Form DIR-12) with the Registrar of Companies to formalize his resignation and provide him with an acknowledged copy. He also requested the removal of his name from all bank mandates, signing authorities, and regulatory listings.
The resignation has been accepted by Managing Director Vaishali Parkar Kumar on behalf of the company on November 12, 2026.