INTIMATION FOR RESIGNATION OF INDEPENDENT DIRECTORS OF THE COMPANY
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Gayatri BioOrganics held a board meeting on May 28, 2025 and approved multiple items in one filing. Two independent directors — Mr. Murali Vittala and Mr. Ramachandra Seshaprasad Chodavarpu — resigned with immediate effect, both citing advancing age. To fill the gaps, Mr. Srinivas Iduri was appointed as a new Independent Director for five years, and Ms. Meenakshi Sachdeva was re-designated from non-executive non-independent to Independent Director. The company also appointed Vas & Co. as Internal Auditors for FY26 and Vivek Surana & Associates as Secretarial Auditors for five years. The audit committee and nomination committee were reconstituted accordingly. The board also approved audited FY25 results, which show a loss of about ₹72.65 lakhs versus ₹68.12 lakhs in FY24, with deeply negative other equity of around ₹11,468 lakhs and very small revenue.
Two independent directors leaving at once is a governance change, but replacements are already in place, so board composition remains compliant. The bigger concern for shareholders is the company's weak financials — continuing losses, negative reserves, and a going-concern note supported only by a promoter comfort letter, suggesting the business remains dependent on promoter support.