Announcement Under Regulation 30 (LODR) Resignation of Directors of the Company
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Gujarat Toolroom Ltd announced multiple board changes effective August 13, 2025. Two executive directors, Mr. Vishal Chandubhai Kothiya (DIN: 10656383) and Mr. Avchalbhai Hemtabhai Chaudhary (DIN: 10049028), resigned citing personal reasons. To fill the gap, the Board appointed Mr. Rajeshkumar Tomar (DIN: 11239573) as Additional Executive Director, subject to shareholder approval. Separately, Mr. Bhavin Jagdishkumar Tank was re-designated from Non-Executive Independent Director to Non-Executive Non-Independent Director, effectively reducing independent oversight. The Audit Committee and Nomination & Remuneration Committee were reconstituted, with Ms. Rekha Rani Naraniwal now chairing the Audit Committee.
Two executive directors leaving on the same day may raise short-term governance concerns, but the company has moved quickly to appoint a replacement and confirms the board still meets SEBI listing requirements. The re-designation of an independent director to non-independent is a mild negative signal for board independence that shareholders should note.