This is a regulatory compliance filing submitted to the BSE Limited, providing additional information and the reason for a delay related to a prior disclosure about the cessation of an Independent Director.
Nature of the Event
The filing provides additional details for a disclosure made on June 02, 2026, concerning the vacation of office of Mr. Samarjeetsinh Vikramsinh Ghatge (DIN: 01193699) as an Independent Director of the Company.
Key Details of the Cessation
- Reason for Change: Vacation of office pursuant to Section 167(1)(b) of the Companies Act, 2013, on account of absence from all Board Meetings held during a period of twelve months.
- Date of Cessation: The effective date of cessation was August 14, 2025.
Reason for Delay in Disclosure
The company explains the timeline that led to the disclosure being made on June 02, 2026, for an event that occurred on August 14, 2025:
1. Identification: The applicability of Section 167(1)(b) was identified during a review of observations received from the Secretarial Auditor in connection with the Annual Secretarial Compliance Report (ASCR). The ASCR was received by the Company on Saturday, May 30, 2026.
2. Verification: On Monday, June 1, 2026 (the first working day after receiving the ASCR), the Company commenced verification of relevant records, including Board attendance records, to confirm the legal position and determine the effective date.
3. Disclosure: Upon completion of the verification, the requisite disclosure under SEBI LODR Regulation 30 was made on June 2, 2026.
The company states the disclosure was made "promptly upon identification and verification of the matter" and "at the earliest practicable opportunity."
Financial Impact
No financial impact is quantified or mentioned in the disclosure.