Announcement under Regulation 30 (LODR)- Change in Directorate
Awaiting price reaction for this filing.
Quasar India Ltd's Board meeting on May 4, 2026 approved the appointment of Ms. Reema Magotra as an Additional Non-Executive Independent Director. Simultaneously, Mrs. Namrata Sharma tendered her resignation as Non-Executive Independent Director citing personal reasons, effective the same date. Mrs. Sharma confirmed there are no material reasons behind her resignation beyond personal reasons. The company also reconstituted three committees - Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee - with Ms. Magotra appointed as Chairperson of the Audit Committee and member of the other two committees. Ms. Magotra's profile indicates she comes from an education background and is not related to any existing directors.
The board changes appear routine with a one-for-one replacement maintaining independent director count. The resignation citing personal reasons with no material concerns suggests a smooth transition rather than governance issues. Shareholders should note the reconstitution of key committees.