Resignation
KOTIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mr. Ravi Kumar Perumal has tendered his resignation as Non-Executive Independent Director of Kothari Industrial Corporation Limited effective from close of business hours on 30.05.2026. The stated reason is personal — specifically his proposed relocation abroad. He was appointed in October 2025 and served approximately 8 months. His resignation letter confirms no material reasons beyond those stated. Consequently, he ceases to be a member of the Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, and steps down as Chairman of the Stakeholders Relationship Committee. The Board has reconstituted all these committees by appointing Mrs. Priya Rao (another Non-Executive Independent Director) in his place.
The resignation of an Independent Director creates a governance change. While the company has filled the committee positions promptly with Mrs. Priya Rao, the departure of an independent director within 8 months of appointment may signal instability in the board composition to investors.