BOARD OF DIRECTORS IN TODAY''S MEETING HAVE 1. APPOINTED ADDITIONAL INDEPENDENT DIRECTOR 2. APPROVE RESIGNATION OF INDEPENDENT DIRECTOR DUE TO COMPLETION OF TWO FIVE YEARS TERM 3. REAPPOINTED ....
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The board of Captain Polyplast Limited, at its meeting on June 24, 2025, approved three key changes. First, Mrs. Anjanaben Paghdar resigned as an Independent Director after completing two consecutive five-year terms (10 years in total), with no other material reasons cited. Second, Mrs. Mita Maradiya was appointed as an Additional Non-Executive Independent Director for her first 5-year term (June 24, 2025 to June 23, 2030), subject to shareholder approval at the 28th AGM. Third, Mr. Ritesh Rameshbhai Khichadia was re-appointed as Whole-Time Director for another 5-year term (July 13, 2025 to July 12, 2030); he is the son of Managing Director Ramesh D. Khichadia. The board also reconstituted its Audit Committee, Nomination & Remuneration Committee, and Stakeholder Relationship Committee to reflect the new composition.
These are routine governance transitions with no negative implications. The outgoing independent director is stepping down only after completing the maximum permissible tenure under law, and a qualified replacement has been appointed. The re-appointment of the promoter-family Whole-Time Director provides continuity in operations. Shareholders should watch for the AGM voting outcome on the new independent director's appointment.