Resignation of Independent Directors
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Clio Infotech Ltd informed the stock exchanges that two Independent Directors, Mr. Lokesh M Jain (DIN: 10646819) and Ms. Nayana Nitesh Madata (DIN: 10652504), have resigned from the Board with effect from April 24, 2025. Both cited pre-occupation and other professional commitments as the reason for stepping down, and confirmed that there are no other material reasons behind their exit. Neither of the two resigning directors holds directorship in any other listed entity. The Board recorded its appreciation for their contributions during their tenure.
The simultaneous exit of both Independent Directors may leave the Board short of the minimum independent director requirement under SEBI listing rules, potentially requiring the company to appoint replacements soon to maintain compliance. For shareholders, this is a governance event to watch, though no adverse reasons were disclosed.