INTIMATION FOR RESIGNATION OF INDEPENDENT DIRECTORS OF THE COMPANY
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.5 pts less than Nifty Microcap 250 and 1.2 pts less than its Commodity Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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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.