Appointment of Secretarial Auditor.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
IEL Limited's board met on 7th August 2025 and approved several key items. The board accepted the unaudited standalone financial results for Q1 FY26 (quarter ended 30th June 2025), which show a loss before tax of about ₹73.62 lakhs versus income of only about ₹5 lakhs, compared to ₹1,303.92 lakhs in the same quarter last year. Two non-executive independent women directors — Ms. Avani Ashwinkumar Shah and Ms. Juhi Sawajani — resigned on the same day, both citing 'other professional commitments.' To fill the gap, three new independent directors were appointed for 5-year terms: Ms. Aastha Jain (also Woman Director), Ms. Ami Priyank Bhanshali, and Ms. Mokshi Prakashbhai Shah. The board also appointed M/s Kunal Sharma & Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30). All three key committees (Audit, Nomination & Remuneration, Stakeholders Relationship) were reconstituted with the new independent directors.
Two independent women directors exiting on the same day — one of whom chaired the Audit Committee — is a notable governance event for shareholders to watch, even though the company cites routine professional reasons and has already appointed replacements. The sharp drop in Q1 revenue compared to last year also warrants attention, as it may signal business slowdown or a change in operations.