ITD CEMENTATION INDIA LIMITED has informed the Exchange about Resignation of Independent director.
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On June 20, 2025, the board of ITD Cementation India Limited (NSE: ITDCEM) approved the resignations of two independent directors — Mr. Sunil Shah Singh and Mrs. Jana Chatra — effective from the close of that day's board meeting. Both resignations were directly linked to the sale and transfer of the entire promoter shareholding of Italian Thai Development Public Company Limited to Renew Exim DMCC, an Adani Group entity, resulting in a change of ownership and control. The company simultaneously appointed Mr. Manoj Kumar Kohli (former CEO of Bharti Airtel and former SoftBank India head) and Mrs. Sangeeta Bhatia (former senior finance executive at NTPC) as additional non-executive independent directors for a 3-year term, subject to shareholder approval.
This is a routine board reshuffle tied to the Adani Group's takeover of the company, not a governance concern. The new independent directors bring heavyweight corporate and financial expertise, which is a positive signal for the company's strategic direction under the new promoter.