Intimation of Resignation of Director under Regulation 30 of SEBI (LODR) Regulations,2015
Awaiting price reaction for this filing.
Alka Securities has informed the stock exchanges that four directors have resigned from its board. Mr. Avinash Bhavri (Independent Director) stepped down effective May 30, 2023, while Mr. Upendra Ravidas (Executive Director), Mr. Jayesh Mehta (Independent Director), and Ms. Bina Soti (Independent Director) all resigned effective March 18, 2025. All four cited pre-occupation and personal commitments as the reason and confirmed there are no other material reasons for their exit. The resigning directors also ceased to be members of the Audit Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee. Notably, this disclosure to the exchange is being made on September 24, 2025, well after the actual resignation dates.
The loss of three independent directors is a significant board-level change for a small listed company and could affect compliance with minimum independent director requirements and the functioning of key board committees, particularly the audit committee. The delayed disclosure (resignations from 2023 and early 2025 being reported only in September 2025) may raise governance concerns among shareholders, though no material undisclosed reasons were cited by the outgoing directors.