Resignation of Mr. Pranav Patel as an Independent Director with effect from the closing hours of September 24, 2025.
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At its September 24, 2025 meeting, the board approved three changes. Mr. Pranav Gokulbhai Patel resigned as Independent Director, citing increased personal business commitments that prevented him from giving enough time to the role. Mr. Jayeshkumar Madhavlal Patel, a textile industry professional with over 40 years of experience, was appointed as a new Non-Executive Independent Director for a 5-year term, pending shareholder approval. Mr. Gaurav Pramodkumar Shrimankar was appointed as Company Secretary and Compliance Officer (Key Managerial Personnel). All board committees were reconstituted, with the new Independent Director replacing the outgoing one.
These are routine governance changes with no disclosed financial impact. The independent director seat is being filled on a like-for-like basis, maintaining board size. Shareholders will need to approve the new director's appointment at the next general meeting.