Announcement under Regulation 30 (LODR)- Resignation of Director
Awaiting price reaction for this filing.
Quasar India Ltd's board meeting on May 4, 2026 approved two key changes. Mrs. Namrata Sharma resigned as Non-Executive Independent Director citing personal reasons, effective the same day. The company confirmed her resignation has no undisclosed material reasons. Simultaneously, Ms. Reema Magotra was appointed as an Additional Non-Executive Independent Director. Three board committees — Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee — were all reconstituted with Ms. Magotra joining each. The resignation does not appear governance-related as no disputes or concerns were flagged.
The one-for-one replacement of an independent director and committee reconstitution suggests routine board refreshment rather than governance concerns. However, investors should monitor if the new director brings relevant expertise given Ms. Magotra's background is in education and organisational development.