BOARD MEETING OUTOME FOR ACCEPTANCE OF RESIGNATION OF INDEPENDENT DIRECTOR AND CFO OF THE COMPANY
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The Board of Lexoraa Industries Ltd (formerly Servoteach Industries Limited) accepted the resignations of two Non-Executive Independent Directors and the Chief Financial Officer, all effective from the close of business on 5th December 2025. The Independent Directors who resigned are Rajesh Kumar Kothari (also Chairman of the Audit Committee, Stakeholder Relationship Committee, and Nomination & Remuneration Committee) and Sagar Shah. The CFO, Mamta Nilesh Kothari, also stepped down. The Independent Directors cited pre-occupation and personal commitments as the reason, while the CFO mentioned pursuing further growth opportunities. All three confirmed there are no other material reasons for their resignation beyond what was stated.
Simultaneous exit of two Independent Directors and the CFO within a single board meeting is a significant governance event for a small-cap company, potentially raising concerns about board stability and financial oversight. Shareholders should watch for any further disclosures on replacement appointments, as gaps in key positions and committees could affect compliance and investor confidence in the short term.