Section A – KMP Resignation Details
- Name of Resigning KMP: Mr. Subhash Chander Kalia
- Designation: Non-Executive Independent Director
- Reason for Resignation: Felt constrained to discharge responsibilities effectively as views/observations/suggestions on various agenda items were "generally not taken in right spirit/perspective" in his endeavor to improve corporate governance and protect minority shareholder interests.
- Effective Date of Resignation: June 02, 2026
- Date of Resignation Letter: June 02, 2026 (email received at 5:14 PM)
- Duration in Role: Appointed for a consecutive period of 5 years effective from March 28, 2024
- Board’s Acknowledgment / Statement: The Board placed on record its appreciation for the valuable contributions and guidance provided during his association.
- Replacement Appointed: Not Specified
- Regulatory Compliance Statement: Disclosure made under Regulations 30 & 51 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with Para A of Part A and Part B of Schedule III, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
- Delay in Disclosure: Not Specified
Analytical Add-On: The resignation appears to be governance-linked and potentially abrupt due to stated constraints in functioning. It affects board composition and committee leadership, specifically the Audit Committee and Stakeholders Relationship Committee.
Section B – Additional Observations or Disclosures
- Transition & Internal Role Reallocations: Mr. Kalia ceased to be a Member of the Audit Committee and the Chairperson of the Stakeholders Relationship Committee upon resignation.
- Successor Appointments: Not Specified
Section C – Financial & Governance Disclosures
No financial results, auditor's reports, dividends, capital changes, buybacks, or other board appointments were disclosed in this filing.