Resignation of Independent Directors
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Clio Infotech Ltd has informed BSE that two of its 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. Neither director holds any other directorship in a listed entity. Both have confirmed there are no other material reasons behind their resignation, and the Board has recorded appreciation for their contributions. The company has not yet announced any replacements for these positions.
The simultaneous exit of both Independent Directors in a single day may raise governance and board composition concerns, especially as Clio Infotech is a small-cap company. Investors should watch for timely appointment of new independent directors to ensure SEBI's minimum board composition requirements are met.