Anand Rathi Wealth Limited has informed the Exchange regarding Cessation of Mr. Kishan Gopal Somani, Mr. Ramesh Chandak and Mrs. Sudha Pravin Navandar as Independent Directors of the company w.e.f. March 14, 2026.
ANANDRATHI · price
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Anand Rathi Wealth Limited has informed the stock exchanges that three Independent Directors — Mr. Kishan Gopal Somani, Mr. Ramesh Chandak, and Mrs. Sudha Pravin Navandar — ceased to be directors of the company with effect from the close of business hours on March 14, 2026. All three had completed their second consecutive term of five years as Independent Directors under Section 149(11) of the Companies Act, 2013. The company has clarified that this cessation is purely on account of completion of their tenure and is not due to resignation, disqualification, or any other reason. Consequently, they also step down as chairman or members of various board committees, and the company has recorded its appreciation for their contributions.
This is a routine regulatory event as these directors had reached the maximum allowable tenure of 10 years (two terms of five years each). Shareholders should keep an eye out for the company's subsequent announcement appointing new Independent Directors to maintain board composition and statutory committee requirements.