ITD Cementation India Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 20, 2025.
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ITD Cementation India's board, at its June 20, 2025 meeting, appointed two new Independent Directors — Mr. Manoj Kumar Kohli (former Bharti Airtel CEO and ex-SoftBank India head) and Mrs. Sangeeta Bhatia (ex-NTPC finance veteran with 36 years' experience) — each for a 3-year term, subject to shareholder approval. At the same meeting, two existing Independent Directors, Mr. Sunil Shah Singh and Mrs. Jana Chatra, resigned with immediate effect. Their resignations are directly tied to the change in ownership and control of the company following the sale of the entire promoter shareholding of Italian Thai Development Public Company Limited to Renew Exim DMCC (part of the Adani Group). The resigning directors confirmed no other material reasons for stepping down.
This is a routine governance reshuffle triggered by the promoter-level ownership change from Italian Thai Development to the Adani Group entity. The appointment of high-profile independent directors with telecom, energy, and finance expertise signals a professionalising of the board under new ownership. Shareholders should expect a general meeting to ratify the appointments and potential strategic direction shifts under Adani Group influence.