RESIGNATION OF THE CFO OF THE COMPANY
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Lexoraa Industries Ltd has reported that two Independent Directors and its Chief Financial Officer have all resigned, effective from the close of business on 5th December 2025. Independent Director Rajesh Kumar Kothari (who also chaired the Audit, Stakeholder Relationship, and Nomination & Remuneration Committees) and Independent Director Sagar Shah stepped down citing personal pre-occupations. CFO Mamta Nilesh Kothari resigned to pursue further growth opportunities. All three resignations occurred on the same day, leaving the company without a CFO and with a significantly weakened board composition. The detailed resignation letters have been attached as Annexure-2 but full reasons are not disclosed beyond the summary statements.
This is a serious governance red flag — losing both independent directors and the CFO simultaneously can leave the company non-compliant with SEBI's minimum independent director requirements and disrupt financial oversight. Shareholders should watch for the company's next filings on board reconstitution and any auditor concerns, as such clustered exits at small-cap companies often precede deeper financial or operational issues.