Akshar Spintex Limited has informed the Exchange regarding Resignation of .Sohilkumar D. Patel as Non- Executive Director of the company w.e.f. May 21, 2025.
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Akshar Spintex Limited has informed the stock exchanges about the resignation of Mr. Sohilkumar D. Patel (DIN: 10877535) from the post of Additional Non-Executive Independent Director. His resignation is effective May 21, 2025, with the formal letter dated May 19, 2025. In his letter, Mr. Patel cited personal reasons and preoccupations as the cause and confirmed there are no other material reasons behind his exit. The company has requested that the Board of Directors approve his resignation at the next board meeting. The disclosure has been made under SEBI LODR Regulation 30 read with the July 13, 2023 SEBI circular. The company is yet to announce a replacement for the vacant independent director position.
A single independent director resigning for personal reasons is a routine governance update with limited direct impact on stock price or operations. However, the company will need to appoint a new independent director within the stipulated time to comply with minimum board composition requirements under the Companies Act and SEBI LODR rules.