CARE Ratings Limited has informed the Exchange regarding Cessation of Mr M Mathisekaran as Non- Executive Independent Director of the company w.e.f. July 10, 2025.
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CARE Ratings Limited has informed the stock exchanges that three Independent Directors — Mr. Najib Shah, Ms. Sonal Desai, and Dr. M. Mathisekaran — ceased to hold office on July 10, 2025, upon completion of their second consecutive 3-year term as Independent Directors. The cessation is a routine end-of-tenure event, not a resignation or removal. The Board has expressed gratitude for their contributions during their association with the company. The company will need to appoint new Independent Directors to fill these vacancies and maintain the required board composition under SEBI norms.
This is a scheduled, non-event-driven change. Since it is completion of tenure rather than a sudden exit, it is unlikely to materially affect the stock price. However, investors should watch for the appointment of new Independent Directors, as board composition and continuity are important for governance at a credit rating agency.