Filatex Fashions Limited has informed the Exchange about General Updates
FILATFASH · price
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Filatex Fashions Limited announced that three Independent Directors — Mr. Mukesh Arora, Mr. Mohammed Riyaz Kamaruddin Khan, and Mr. Rakesh Sharma — have resigned from the Board with effect from May 6, 2025. All three cited increased personal commitments as the reason for stepping down, and none held any shares in the company. The Board has reconstituted the Nomination and Remuneration Committee, now comprising Nageswara Rao Chitirala as Chairman, with Swapnil Prakash Raka and Vallam Setty Raghuram as members. No reasons beyond personal commitments were disclosed.
The simultaneous resignation of all three independent directors on the same day is unusual and may raise governance concerns about board stability and oversight. Shareholders should watch for timely appointment of new independent directors, as a sudden full turnover of independent directors can affect investor confidence and potentially impact compliance with SEBI's board composition requirements.