Intimation of Completion of the second and final term of Independent Directors of the company.
Awaiting price reaction for this filing.
Two Independent Directors of Charms Industries Ltd — Mr. Harshad Shantilal Gandhi (DIN: 01056779) and Mr. Nishit Madhavbhai Rupapara (DIN: 02859031) — stepped down from the board with effect from September 30, 2025. Both completed their second consecutive 5-year term as Independent Directors, which under the Companies Act, 2013 and SEBI LODR Regulations is the maximum permitted tenure. The cessation is due solely to the natural end of their terms, with no other reason cited. The board recorded its appreciation for their contributions during their tenure.
This is a routine, regulatory-driven board change and not a governance red flag. The company will need to appoint new Independent Directors in due course to maintain the minimum board composition required under the Companies Act. No direct impact on stock price or shareholder value is expected.