Attached herewith is the intimation regarding cessation of directorship of Mr. Seetharam N Shetty w.e.f. 23.04.2025 on account of his sad demise.
Awaiting price reaction for this filing.
JBF Industries Limited, currently under the Corporate Insolvency Resolution Process (CIRP), has informed the stock exchanges about the sad demise of Mr. Seetharam N Shetty (DIN: 07962778), Executive Director of the Company, on April 20, 2025. The Resolution Professional (RP) was informed of his death by the family. Consequently, Mr. Seetharam N Shetty ceases to be a Director of the Company with effect from April 20, 2025. The intimation has been made under Regulation 30 of SEBI's Listing Regulations. The company is being managed by the RP during the ongoing insolvency proceedings.
This is a compassionate disclosure and is unlikely to materially affect stock price or operations, as the company is already under CIRP and managed by the Resolution Professional. Shareholders should note the change in board composition, but key decisions remain with the RP and the Committee of Creditors.