Gujarat State Petronet Limited has informed the Exchange regarding Cessation of Dr. Sudhir Kumar Jain and Shri Bhadresh Mehta as Non- Executive Independent Directors of the company w.e.f. the close of business hours on October 22, 2025.
Awaiting price reaction for this filing.
Gujarat State Petronet Limited has informed the stock exchange that Dr. Sudhir Kumar Jain and Shri Bhadresh Mehta have ceased to be Non-Executive Independent Directors of the company with effect from the close of business hours on October 22, 2025. Two independent directors stepping down at the same time is notable from a board composition standpoint. The company has not yet disclosed the reasons for their cessation or whether replacements have been identified. Shareholders will be watching for further updates on reconstitution of the board.
Loss of two independent directors at once could temporarily reduce board diversity and may raise governance questions until new independent directors are appointed. Near-term impact on stock price is likely limited but could attract regulatory or shareholder scrutiny.