Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, we wish to inform you that Mr Vandan Shah (DIN: 00759570) has completed his second and ....
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Hercules Investments Ltd has informed the BSE that Mr. Vandan Shah (DIN: 00759570) retired as an Independent Director effective February 5, 2026, after completing his second and final five-year term under Section 149(11) of the Companies Act, 2013. He also stepped down as Chairman of the Audit Committee and Nomination & Remuneration Committee, and as a member of the Stakeholders Relationship Committee. The Board placed on record its appreciation for his contributions. The disclosure was filed on March 19, 2026 — roughly six weeks after the effective date — because the company initially believed the term expiry, being publicly available, did not require a stock exchange filing, but later confirmed it was required.
This is a routine, planned exit with no governance red flags — Mr. Shah is leaving because his maximum permitted tenure has ended, not due to any dispute. Shareholders should note the company now needs to fill the vacated Independent Director seat and committee chair roles, which could affect board composition in the coming months. The delayed disclosure may attract minor regulatory scrutiny but is unlikely to materially impact the stock price.