Mr. Arpit Shah (DIN: 07499195), Independent Director of the Company has resigned from the Board of the Company w.e.f. April 06, 2026
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Mr. Arpit Shah, Independent Director of Cupid Breweries And Distilleries Ltd, has resigned from the Board effective April 06, 2026. His resignation letter reveals significant governance concerns including lack of adequate internal controls and deviations from established governance processes. The director cited that Board and Committee meetings were convened at very short notice with agenda papers circulated just hours before meetings, giving specific examples where notice was less than 1-3 hours. This resulted in a unilateral, monologue-driven decision-making environment that materially limited his ability to contribute effectively. He confirmed there are no other material reasons beyond those stated. He also ceased to be a member of Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.
This resignation raises red flags about governance standards at the company. The explicit mention of internal control weaknesses and short-notice meetings could negatively impact investor confidence and attract regulatory scrutiny.