BANNARI AMMAN SUGARS LIMITED has informed the Exchange about Resignation of Independent director.
BANARISUG · price
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Sri M Ponnuswami has resigned as Independent Director of Bannari Amman Sugars Limited with effect from 17th April 2026. The resignation was triggered because he could not appear for the mandatory Online Proficiency Self-Assessment Test within the timeline specified under Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014. As a result, he also ceased to be a member of the Stakeholders' Relationship Committee and Risk Management Committee. The board has recorded its appreciation for his contributions during his tenure. Ponnuswami confirmed there are no other material reasons for his resignation and that he does not hold any directorship in other listed entities.
This resignation removes an independent board member and committee member due to personal non-compliance with regulatory requirements rather than any governance dispute. It reduces board independence and committee strength, though the company appears to be in compliance — the issue lies with the individual's failure to complete a mandatory test.