Intimation of Completion of the second and final term of Independent Directors of the company.
Awaiting price reaction for this filing.
Charms Industries has informed BSE that two Independent Directors — Mr. Harshad Shantilal Gandhi (DIN: 01056779) and Mr. Nishit Madhavbhai Rupapara (DIN: 02859031) — have completed their second and final consecutive term of five years each and ceased to be Directors of the company with effect from the close of business hours on September 30, 2025. Their departure is purely due to the completion of the maximum tenure permitted under Section 149 of the Companies Act, 2013, with no other reason cited. The Board expressed appreciation for their guidance and stewardship during their tenure. The company will now need to appoint new Independent Directors to maintain the required board composition under SEBI Listing Regulations.
This is a routine governance update with no immediate operational or financial impact. Shareholders should watch for the company's next announcement on the appointment of new Independent Directors, as the board must fill these vacancies to stay compliant with SEBI's minimum Independent Director requirements.