Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding Resignation of Alpesh Kiritbhai Patel, Independent Director and Radheshyam Rampal Patel, Independent Director of the Company
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Heera Ispat Ltd has informed the BSE that two Independent Directors — Alpesh Kiritbhai Patel (DIN: 00389094) and Radheshyam Rampal Patel (DIN: 02694786) — have resigned from the Board with effect from December 1, 2025. Both directors cited personal business pre-occupation and inability to devote sufficient time as the reason for stepping down, and confirmed there are no other material reasons behind their exit. The company has enclosed copies of both resignation letters, which were dated November 21, 2025. With the intimation signed by Director Himanshi Jayrajsinh Jadeja, the company now needs to fill two independent director positions to remain compliant with SEBI board composition rules.
The simultaneous departure of both independent directors weakens the board's independent oversight and could trigger short-term governance concerns for shareholders, with possible negative sentiment on the stock. The company will need to appoint new independent directors promptly to comply with SEBI LODR requirements on board composition, and any delay could attract regulatory scrutiny.