Disclosure under Regulation 30 of SEBI (LODR) Regulation, 2015 for Resignation of Independent Director of Company
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Cargotrans Maritime Limited informed the stock exchange about changes to its Board of Directors. Mr. Praveen Agarwal resigned as an Independent Director effective September 23, 2025, citing pre-occupation and personal commitments. He also stepped down from the Audit Committee and Nomination & Remuneration Committee. In his place, the Board appointed Mr. Nilesh Gopal Rabadia, a Chartered Accountant with over 20 years of experience in private and public listed companies, as an Additional Director (Non-Executive-Independent) for a 5-year term, subject to shareholder approval. The Company recorded appreciation for Mr. Agarwal's contributions during his tenure.
This is a routine independent director rotation with no governance red flags. Shareholders should expect minimal impact on stock price, though the appointment of a new independent director will require shareholder approval at the next general meeting.