Gallantt Ispat Limited has informed the Exchange regarding Resignation of Pankaj Khanna as Non- Executive Independent Director of the company w.e.f. May 05, 2026.
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Gallantt Ispat Limited has disclosed the simultaneous resignation of two Independent Directors — Mrs. Smita Modi and Mr. Pankaj Khanna — both effective close of business hours on 5th May, 2026. Both cited similar reasons: sudden heavy work pressure, pre-occupation, lack of time, and other engagements. Each has confirmed that there are no other material reasons beyond those stated in their resignation letters. The Board expressed appreciation for their services. Both directors held no other directorships in listed entities as per the disclosure. Both resignations are filed under Regulation 30 of SEBI LODR Regulations, 2015.
The simultaneous departure of two Independent Directors raises governance concerns as it could impact board composition and independence requirements under SEBI LODR. Shareholders should monitor for replacement appointments to maintain the required board independence ratio.