Century Plyboards (India) Limited has informed the Exchange regarding Cessation of Mr Debanjan Mandal as Non- Executive Independent Director of the company w.e.f. August 01, 2025.
CENTURYPLY · price
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Century Plyboards has informed the stock exchanges that two Independent Directors, Shri Sunil Mitra and Shri Debanjan Mandal, will cease to be on the Board with effect from August 1, 2025. Both directors have completed their second (consecutive) term as Independent Directors, and their current tenure ends on July 31, 2025. Under SEBI regulations, independent directors cannot be reappointed for a third consecutive term. The company has not announced any replacement appointments in this filing.
The simultaneous exit of two independent directors is a routine governance event tied to SEBI's tenure limits, but investors should watch for timely appointment of new independent directors to maintain board composition compliance and avoid any governance gaps.