CMI LIMITED has informed the Exchange about Resignation of Independent director.
Awaiting price reaction for this filing.
CMI Limited has informed the stock exchanges that Mr. Servagaya Jain, an Independent Director on the company's board, has resigned with effect from August 18, 2025. He cited personal commitments and pre-occupation, saying he was unable to dedicate sufficient time to his duties as a director. The resignation was accepted by the Resolution Professional of the company, indicating CMI Limited is currently under the insolvency resolution process (CIRP). Mr. Jain did not hold directorships in any other listed entity. The company confirmed there are no other material reasons behind the resignation.
The exit of an independent director is a routine governance event, but shareholders should note the company is under insolvency proceedings, which is a key context. The resignation is unlikely to move the stock on its own, but it does affect the board composition during an already sensitive corporate restructuring phase.