KOTIC · price
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Awaiting price reaction for this filing.
Kothari Industrial Corporation Ltd informed BSE that Mr. Dilip Machado, a Non-Executive Independent Director, retired from the Board with effect from March 30, 2025, upon completing his second consecutive five-year term as per the Companies Act, 2013 and SEBI LODR Regulations. He also ceased to be a member of any Board Committees. The Board recorded appreciation for his contributions during his tenure. The filing was delayed slightly due to consecutive holidays on March 30 and 31, 2025.
This is a routine, expected retirement at the end of a director's permitted tenure and is unlikely to have any material impact on the company's operations or stock price. Shareholders should watch for the appointment of a new Independent Director to fill the vacancy, as SEBI rules require a certain composition of independent directors on the board.