Proposal for appointment of Indepemdent Director in Material Unlisted Subsidiary
ATLANTAELE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Atlanta Electricals Limited has announced that its Board of Directors of Atlanta Trafo Limited, the company's material unlisted subsidiary, has recommended the appointment of two Independent Directors. Mr. Dukhabandhu Rath (currently an Independent Director on Atlanta Electricals' board) is proposed for appointment as Non-Executive Independent Director for a 5-year term. Mrs. Jinkal Darshan Patel (also currently an Independent Director on the parent company's board) is proposed for appointment as Non-Executive Independent Woman Director for a 5-year term. Both appointments are being made in compliance with SEBI Regulation 24(1) and are subject to shareholder approval at the subsidiary's General Meeting scheduled for May 12, 2026. Mr. Rath brings 36 years of banking experience from State Bank of India, while Mrs. Patel has 19 years of experience in finance and pharmaceuticals.
This announcement indicates strengthened governance at the subsidiary level as both appointees are already experienced Independent Directors serving on the parent company's board. The filing demonstrates compliance with SEBI regulations requiring independent directors on material unlisted subsidiary boards.