ITD Cementation India Limited has informed the Exchange regarding Resignation of Mr Sunil Shah Singh as Independent Director of the company w.e.f. Jun 20, 2025.
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ITD Cementation India Limited informed the exchanges on June 20, 2025 that two Independent Directors, Mr. Sunil Shah Singh and Mrs. Jana Chatra, have resigned from the board effective the close of that day's board meeting. The resignations are linked to the sale and transfer of the entire shareholding of Italian Thai Development Public Company Limited, the existing promoter, to Renew Exim DMCC (part of the Adani Group), resulting in a change of ownership and control. In the same meeting, the board appointed Mr. Manoj Kumar Kohli (former CEO and MD of Bharti Airtel and ex-SoftBank India head) and Mrs. Sangeeta Bhatia (former senior finance executive at NTPC with 36 years of experience) as Additional Directors, Non-Executive Independent Directors. Both new appointments are for a 3-year term from June 20, 2025 to June 19, 2028, subject to shareholder approval at a general meeting.
The changes formalise the transition of promoter control from Italian Thai Development to the Adani Group, a significant corporate event for shareholders. Resignations of independent directors on ownership change are routine, and the new appointees bring strong telecom, finance, and governance credentials, which may be viewed positively by the market.