Cessation
Price
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Awaiting price reaction for this filing.
Two directors have stepped down from the board within a span of three days. Mr. Satyen Dalal, Whole-Time Director, resigned effective October 1, 2025, citing personal reasons. Mr. Milan Dalal, Non-Executive Director (son of Bhupendra Dalal, on the board since 1999), resigned effective October 3, 2025, citing other prior commitments. The board noted both resignations at its meeting on October 10, 2025. Both resignations were attributed to personal/professional reasons with no material reasons disclosed. The company has not announced replacement directors in this filing. Instead, existing directors (Krishnaprasad Ramanathan, Aradhana Kurup, Ashith Kampani, B Ravindra Nath Reddy, Puja Dalal) have been reallocated across the Audit, Nomination & Remuneration, and Stakeholders Relationship committees.
The loss of a Whole-Time Director in quick succession, alongside a long-serving Non-Executive Director, leaves the company without a named executive director. Shareholders should watch for the appointment of a successor, as the absence of a full-time executive could affect day-to-day operations and governance continuity at this small-cap company.