Disclosure under Regulation 30 of SEBI (LODR) Regulation, 2015 for Appointment of Independent Director of the Company
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Cargotrans Maritime Limited announced two simultaneous changes to its Board effective September 23, 2025. Mr. Nilesh Gopal Rabadia, a Chartered Accountant with over 20 years of experience in private and public listed companies, has been appointed as an Additional Director (Non-Executive-Independent) for a 5-year term, subject to shareholder approval. At the same time, Mr. Praveen Agarwal resigned as Independent Director citing pre-occupation and personal commitments, and will also step down from the Audit Committee and Nomination & Remuneration Committee. Mr. Agarwal held no other listed entity directorships and confirmed there are no other material reasons behind his resignation.
This is a routine board reshuffle with one independent director replacing another. The incoming director brings strong financial expertise as a CA, while the outgoing director's resignation appears benign with no governance red flags. Shareholders should expect minimal impact on stock price or company operations.