Announced Thu, 2 Apr · 17:35 IST

Mr. Ajay Gandeja (DIN: 08663702), Independent Director of the Company has resigned from the Board of the Company w.e.f. March 29, 2026.

Management Changes View source PDF

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Price reaction · full curve 14 horizons · vs prior close
+10.2%1-day move
₹21.31
prior close
₹22.37
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AI summary

Mr. Ajay Gandeja has resigned as Independent Director of Cupid Breweries And Distilleries Ltd effective March 29, 2026, citing pre-occupancy as the reason. He also stepped down from his positions as Chairman of the Audit Committee and member of the Nomination and Remuneration Committee. The company has confirmed receiving his resignation letter and that no material reasons exist for the departure other than those stated. Mr. Gandeja continues to hold an independent directorship in Jet Freight Logistics Limited.

Likely market impact

The resignation reduces board independence and leaves the Audit Committee without its designated chairman, which may raise concerns among investors about governance structure until a replacement is appointed.