Intimation of Resignation of Managing Director and director pursuant to regulation 30 of SEBI (LODR) Regulation 2015
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On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 1.5 pts less than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mr. Niraj Chandra (DIN: 00452637) has resigned from his roles as Managing Director and Director of Kay Power and Paper Ltd, effective June 1, 2026. He cited pre-occupation and inability to devote sufficient time to the company's affairs as the reason. The company has confirmed there are no other material reasons behind the resignation. The intimation was made under SEBI Listing Regulations and the details have been filed with BSE (Scrip Code 530255).
The sudden exit of the Managing Director may raise short-term governance concerns for shareholders, as the company has not announced a successor. Investors should watch for a replacement appointment, as the absence of a permanent MD could create leadership uncertainty and affect strategic decision-making.