Balu Forge Industries Limited has informed the Exchange regarding Cessation of Mr. Raghvendra Raj Mehta as Non- Executive Independent Director of the company w.e.f. May 06, 2026, in accordance with the Regulation 17(1A) of the SEBI (LODR) Regulations, 2015.
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Mr. Raghvendra Raj Mehta ceased to be an Independent Director of Balu Forge Industries Limited effective May 6, 2026, upon attaining the age of 75 years. The cessation was mandatory under Regulation 17(1A) of SEBI (LODR) Regulations, 2015, which prescribes an age limit of 75 years for independent directors without special shareholder approval. Mehta was appointed for a five-year term ending June 29, 2026, meaning his exit came approximately two months before the scheduled term completion. The board has expressed appreciation for his contributions. This leaves a vacancy on the board that may require appointment of a new independent director to maintain the required board composition.
The stock may see minor negative sentiment as the board loses an experienced independent director ahead of term completion. However, since this is a regulatory compliance exit rather than a dispute, the impact is likely limited. Shareholders may want to monitor for new independent director appointments.