BF Utilities Limited has informed the Exchange about Resignation of Ms. Aarti Sathe from the position of Non Executive, Independent Director of the Company from the close of business hours on August 14, 2025
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BF Utilities Limited has informed the stock exchanges that Ms. Aarti Arun Sathe (DIN: 06925030) has resigned as Non-Executive, Independent Director of the company, effective from the close of business hours on August 14, 2025. She has also stepped down from the Audit Committee and the Nomination and Remuneration Committee of the company. The reason for her resignation is that she has been elevated as an Additional Judge of the Hon'ble Bombay High Court, via a Government of India notification dated August 13, 2025. She has confirmed there are no other material reasons for her resignation, and she does not hold directorships in any other listed entity. The Board has recorded its appreciation for her contributions during her tenure.
This is a routine and positive development — the director is leaving for a prestigious judicial appointment, not due to any governance concerns. There is no negative implication for shareholders. However, the company will need to appoint a new Independent Director within the timelines prescribed under SEBI LODR and the Companies Act to maintain board composition requirements.