Please find attached intimation letter pertaining to resignation of Mr. Laxmi Narayan Sharma, Independent Director
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GCM Commodity & Derivatives Ltd informed the BSE that Mr. Laxmi Narayan Sharma (DIN: 00356855), a Non-Executive Independent Director, has resigned from the board with effect from April 18, 2025. The board accepted the resignation at its meeting on May 5, 2025, upon recommendation of the Nomination & Remuneration Committee. The reason cited is the completion of his 5-year tenure (second term), and he confirmed there are no other material reasons. He did not hold directorships in any other listed entity, and the company is listed on the BSE SME platform (Scrip Code 535917).
This is a routine, planned exit due to completion of Mr. Sharma's second term as independent director, with no governance concerns flagged. For shareholders, it should have minimal impact on the stock, though the company will need to fill the independent director vacancy to maintain statutory board composition.