Additional details regarding date of cession of Independent Director
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Befound Movement Ltd (formerly Regency Trust Limited) has provided additional details to BSE about the cessation of Independent Director Mr. Rohit Vijay Thorve (DIN: 07116102), whose term ended on May 27, 2025. The company had originally announced his exit on May 27, 2025 but failed to include the date of cessation as required under SEBI's disclosure norms. The director stepped down because he had completed the maximum 10-year tenure permitted for an Independent Director under company law. The disclosure is signed by Managing Director Rajesh Kapoor.
This is a routine compliance correction with no material impact on shareholders or the stock. The director's exit was due to the mandatory 10-year term cap, which is standard and expected. No governance concerns are flagged beyond a minor disclosure lapse by the company.