Madras Fertilizers Limited has informed the Exchange regarding Cessation of Mr. Sanjay Vishnu Shetye as Non- Executive Independent Director of the company w.e.f. April 16, 2026.
MADRASFERT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Madras Fertilizers Limited has announced that two Independent Directors - Mr. Sanjay Vishnu Shetye and CA. Alok Kumar Agrawal - have ceased to hold office effective April 16, 2026. Both directors were appointed on April 17, 2025, for a one-year term by the Department of Fertilizers, Government of India. The cessation is solely due to completion of their tenure as per Government orders, and not due to any other reason. As a government PSU (CPSE), these appointments were made by the central government and the company received official orders from the Department of Fertilizers regarding the re-appointment and subsequent tenure completion.
The departure of two independent directors may temporarily reduce board independence and governance strength, though this is a routine tenure-related change in a government-owned company. Shareholders should expect replacement appointments as per SEBI LODR requirements.