BF Utilities Limited has informed the Exchange regarding Cessation of Mr Shrikrishna Kiran Adivarekar as Non- Executive, Independent Director of the Company w.e.f. close of business hours on May 29, 2026
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BF Utilities Limited has announced the completion of the second term of Mr. Shrikrishna K. Adivarekar as an Independent Director. His tenure of 3 years (May 30, 2023 to May 29, 2026) ended on May 29, 2026. Mr. Adivarekar held key committee positions including Chairman of the Audit Committee and Nomination and Remuneration Committee, as well as membership in the Stakeholders Relationship Committee and Risk Management Committee. The company has clarified this is a natural term completion, not a resignation, and he has ceased to be a Director with effect from close of business hours on May 29, 2026.
This represents a routine governance change due to natural term expiry rather than a governance concern. However, the departure of an Independent Director who chaired two major committees may create temporary governance gaps that the board needs to address by appointing replacements.