Cessation of Office of Mr. Om Parkash Singal from the position of Independent Director of the Company on account of completion of Term.
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Elegant Marbles & Grani Industries announced three board-level changes on May 6, 2025. Mr. Om Parkash Singal, Independent Director, retired on May 8, 2025 after completing two consecutive 5-year terms (10 years total). Mr. Ketan Chokshi, a Fellow Chartered Accountant and law graduate with over two decades of experience in corporate strategy, M&A, IPOs, and financial restructuring, was appointed as Additional Independent Director for a 5-year term starting May 9, 2025, subject to shareholder approval. Additionally, Company Secretary and Compliance Officer Ms. Pooja Ponda tendered her resignation citing personal reasons, with her last working day set as May 31, 2025. Board committees (Audit, Nomination & Remuneration, and Stakeholders Relationship) were reconstituted effective May 9, 2025.
These are routine governance transitions with no negative implications. The seamless replacement of an Independent Director and the appointment of a credentialed new director (Ketan Chokshi) should be viewed positively by shareholders. The Company Secretary departure is for personal reasons and the company confirms no material concerns, so it should not affect stock price or operations.