BSE Limited has informed the Exchange regarding Resignation of Shri Nandkumar Saravade as Non- Executive Independent Director of the company w.e.f. closure of business hours of August 21, 2025.
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BSE Limited has informed the stock exchange that Shri Nandkumar Saravade (DIN: 07601861) has resigned as a Public Interest Director (Independent Director) of the company, effective from the close of business hours on August 21, 2025. The reason cited is a potential conflict with the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 (SECC), arising because he is also an Independent Director on the Board of Jio BlackRock Asset Management Private Limited, and a group company associated with Jio BlackRock has applied for trading membership at BSE. He will also step down as Chairperson/Member from all committees of BSE Limited. He continues to serve as Independent Director on the board of AU Small Finance Bank Limited, where he is a member of the Risk Management Committee and the IT Strategy and Information Systems Security Committee. He has confirmed there are no other material reasons for his resignation.
This is a routine governance-driven exit rather than a performance or controversy issue — the director stepped down proactively to avoid a regulatory conflict, which reflects positively on BSE's compliance culture. The resignation of one independent director is unlikely to materially affect the stock price, though investors may note the board will need to fill a Public Interest Director seat soon.