Bafna Pharmaceuticals Limited has informed the Exchange about the retirement of Mr. Palamadai Krishnan Sundaresan (DIN: 06954189) as an Independent Director of the Company upon completion of his first term, with effect from June 24, 2025.
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Bafna Pharmaceuticals has informed the exchanges that Mr. Palamadai Krishnan Sundaresan (DIN: 06954189) retired as an Independent Director with effect from close of business on June 24, 2025, after completing his first term. He also ceased to be Chairman of the Audit Committee and a member of the Nomination & Remuneration Committee. The Board has reconstituted both committees effective June 25, 2025, with Mr. Navin Kumar now chairing the Audit Committee and Mrs. Ravichandran Chitra chairing the Nomination & Remuneration Committee. The company has confirmed that the Board and committee composition continue to comply with applicable laws.
This is a routine, planned retirement of an independent director on term completion, with committees already reconstituted and regulatory compliance confirmed. No governance red flags — minimal impact expected on shareholders or stock price.