RESIGNATION OF INDEPENDENT DIRECTORS OF THE COMPANY
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On 5th December 2025, Lexoraa Industries announced the resignation of two Independent Directors and its Chief Financial Officer, all effective from the close of business on the same day. Independent Directors Rajesh Kumar Kothari (DIN: 10174698) and Sagar Shah (DIN: 08663318) stepped down citing pre-occupation and personal commitments. Mr. Kothari also ceases to chair the Audit Committee, Stakeholder Relationship Committee, and Nomination & Remuneration Committee, while Mr. Shah ceases to be a member of these committees. CFO Mamta Nilesh Kothari (PAN: BVFPK0241N) resigned to pursue further growth opportunities. All three confirmed there are no other material reasons beyond those stated in their letters.
This is a significant governance event for a small-cap company — losing both independent directors and the CFO simultaneously weakens board independence, disrupts key committees (especially audit oversight), and may raise investor concerns about internal controls until replacements are appointed. Shareholders should watch for timely appointment of new independent directors and a new CFO to restore governance stability.