Cessation of Mr. Rhythm Garg (DIN : 02881514), due to completion of second term of appointment as an independent director of the company w.e.f. April 12, 2025.
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Mr. Rhythm Garg (DIN: 02881514), Non-Executive Independent Director of Anna Infrastructures Ltd, ceased to hold office with effect from the close of business hours on April 12, 2025, upon completing his second consecutive 5-year term as an independent director. The board has recorded appreciation for his contributions during his 10-year tenure. Following this exit, the company's board committees (Audit, Nomination & Remuneration, Stakeholder Relationship, and Independent Director) have been reconstituted. The company continues to have three other independent directors — Mr. Vivek Agarwal, Mr. Prashant Surana, and Mrs. Nidhi Jalan — along with non-executive and executive directors, so board composition remains compliant with SEBI norms.
This is a routine, scheduled departure due to the expiry of the maximum permissible two-term tenure for independent directors under the Companies Act, and is not indicative of any governance issue or dispute. Shareholders are unlikely to see any material impact on stock price or operations; the company will likely appoint a new independent director in due course to fill the vacancy.