ITD Cementation India Limited has informed the Exchange regarding Resignation of Mrs Jana Chatra as Independent Director of the company w.e.f. Jun 20, 2025.
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ITD Cementation India has announced a major board reshuffle triggered by a change in ownership. The company's existing promoter, Italian Thai Development Public Company Limited, has sold its entire stake to Renew Exim DMCC, part of the Adani Group, resulting in a change of control. Two Independent Directors, Mr. Sunil Shah Singh and Mrs. Jana Chatra, resigned on June 20, 2025, citing this change of ownership. To fill the vacancies, two new Independent Directors were appointed: Mr. Manoj Kumar Kohli, a former CEO of Bharti Airtel and ex-SoftBank India head, and Mrs. Sangeeta Bhatia, a former senior finance executive at NTPC with 36 years of experience. Both new directors have been appointed for a 3-year term, subject to shareholder approval.
The transition marks a shift in the company's controlling shareholder from Thai-based Italian Thai Development to the Adani Group, which may bring strategic and operational changes. For retail investors, the appointment of two high-profile independent directors with strong corporate backgrounds signals governance continuity and a possible new strategic direction under Adani ownership.