Clarification of BSE on our announcement dated 09.06.2025 in respect to resignation of Mr.RM Shanmugam (COO) of the company.
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Loyal Textile Mills has clarified to BSE about its June 9, 2025 announcement regarding the resignation of Mr. R.M. Shanmugam as Chief Operating Officer (COO), effective June 12, 2025. The company explains that the resignation letter was not submitted within the required 7-day window because it could not be obtained from the separated employee. The letter was eventually secured on October 9, 2025, and is now being resubmitted. This same clarification had already been given to NSE in October 2025 following a similar query. The company assures continued compliance with SEBI listing regulations.
This is largely a procedural disclosure catching up on paperwork rather than new business news. Shareholders should note a minor governance flag: the company was unable to retrieve a key managerial personnel's resignation letter within the regulatory deadline, though no financial or operational impact is indicated.