GNFC · price
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GNFC has responded to a BSE query about the late disclosure of the resignation of Shri Kamal Dayani, IAS (Retd.), who stepped down as Director effective from the close of business on July 31, 2025, upon attaining superannuation. The company clarified that the resignation letter (dated August 4, 2025) was received by GNFC only on August 4, 2025, and the disclosure was submitted to the exchange on the same day, well within the 24-hour window. The company argues that the 24-hour SEBI timeline runs from receipt of the resignation letter, not from the effective date of resignation. Kamal Dayani, a government-nominated IAS officer, also served as Managing Director of Gujarat State Fertilizers & Chemicals Ltd (GSFC).
This is a governance and compliance-related clarification and does not impact the company's financials or operations. The director's exit was expected, as it was due to superannuation, and a replacement nomination by the state government is typically expected. No material effect on shareholders is anticipated.