This is with reference to your e-mail dated 03-11-2025 regarding the additional details required for the Corporate Announcement filed under SEBI (LODR) Regulations 2015, pertaining to the ....
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On the reaction day the stock moved 4.3 pts less than Nifty Microcap 250 and 3.2 pts less than its Paper, Forest & Jute Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Two non-executive independent directors, Mr. Gaurav Singh (DIN: 08595011) and Mrs. Shalini Srivastava (DIN: 10951727), resigned from the board effective from the close of business hours on 16th October 2025, citing personal reasons. This filing is a revised disclosure submitted to BSE in response to the exchange's email dated 03-11-2025 seeking additional details as per SEBI LODR Regulations and related circulars. Neither director held directorships or committee positions in any other listed entity. The company has not announced any replacements in this filing.
The simultaneous exit of two independent directors may raise governance concerns about board composition and continuity, particularly if independent director vacancies are not filled promptly to maintain the minimum required composition under SEBI rules.