Attached herewith is the intimation regarding cessation of Directorship of Mrs Seetharam N Shetty w.e.f 20.04.2025 on account of his sad demise.
Awaiting price reaction for this filing.
JBF Industries Ltd, which is currently under the Corporate Insolvency Resolution Process (CIRP), has informed the stock exchanges that its Executive Director, Mr. Seetharam N Shetty (DIN: 07962778), passed away on April 20, 2025. The Resolution Professional was notified of this by the family on April 23, 2025, after which the intimation was filed with BSE and NSE under Regulation 30 of the Listing Regulations. Mr. Shetty accordingly ceases to be a Director of the Company with effect from April 20, 2025. No replacement or reconstitution of the board has been announced in this filing.
This is a personal loss rather than a strategic exit, so it is unlikely to materially affect the stock price on its own. However, it leaves a vacancy on the board of a company already under insolvency proceedings, and any future reconstitution will be handled by the Resolution Professional as part of the CIRP process.