Section A – KMP Resignation Details
- Name of Resigning KMP: Mr. Naveen Prakash
- Designation: Non-Executive Independent Director
- Reason for Resignation: Appointment as Chairman of the 7th State Pay Commission by Govt. of West Bengal, leading to increased commitments and time constraints
- Effective Date of Resignation: Close of business hours on 31st July, 2026
- Date of Resignation Letter: 31st July, 2026 (received via email on 1st August, 2026)
- Duration in Role: Not Specified
- Board’s Acknowledgment / Statement: The Interim Resolution Professional approved and acknowledged the resignation on 1st August, 2026
- Replacement Appointed: Not Specified
- Regulatory Compliance Statement: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Part A of Schedule III, and SEBI updated master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- Delay in Disclosure: Resignation received 1st August, 2026 and disclosed same day
Analytical Add-On: The resignation appears routine and strategic due to external appointment rather than performance-linked or regulatory issues. However, the timing during Corporate Insolvency Resolution Process (CIRP) may raise governance continuity questions, though the reason is clearly stated as personal/professional commitments.
Section B – Additional Observations or Disclosures
- Transition & Internal Role Reallocations: No information provided about interim arrangements or internal reallocations following the resignation.
- Successor Appointments: No announcement of a successor Independent Director at this time.
Section C – Financial & Governance Disclosures
No financial results, auditor reports, dividends, capital changes, or other board appointments disclosed in this filing. The document focuses solely on the director resignation and CIRP context.