Intimation for Cessation of Independent Directors on completion of their second & final tenure
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bengal Tea & Fabrics Ltd has announced that two Independent Directors, Mr. Navin Nayar and Mr. Ashutosh Bhagat, have ceased to be Independent Directors with effect from close of business hours on March 31, 2026. Both directors completed their second and final term as permitted under SEBI regulations, making this a routine tenure completion rather than a voluntary resignation. The Board has expressed appreciation for their extensive contribution and stewardship during their tenure. The company disclosed this pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This leaves the board with two fewer independent directors.
The simultaneous departure of two independent directors reduces board independence and may raise governance concerns for investors. Shareholders should monitor how the company plans to fill these vacancies to maintain proper board composition as required under SEBI LODR.