Filatex Fashions Limited has informed the Exchange regarding Board meeting held on May 06, 2025.
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Filatex Fashions Limited informed the exchanges that at its board meeting on May 6, 2025, three independent directors resigned simultaneously, effective the same day. The resigning directors are Mr. Mukesh Arora, Dr. Mohammed Riyaz Kamaruddin Khan, and Mr. Rakesh Sharma, all of whom cited 'increased personal commitments' as the reason. None of them hold shares in the company or serve on the boards of other listed entities. The board also reconstituted the Nomination and Remuneration Committee with Mr. Nageswara Rao Chitirala as Chairman, along with Mr. Swapnil Prakash Raka and Mr. Vallam Setty Raghuram as members.
The simultaneous exit of all three independent directors is a notable governance event that may raise concerns about board stability and oversight. Investors should watch for timely appointment of new independent directors to ensure compliance with SEBI listing requirements, as the company currently has no independent directors on its reconstituted NRC.