Madras Fertilizers Limited has informed the Exchange regarding Cessation of CA. Alok Kumar Agrawal as Non- Executive Independent Director of the company w.e.f. April 16, 2026.
MADRASFERT · price
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Madras Fertilizers Limited has announced the cessation of two Independent Directors — Mr. Sanjay Vishnu Shetye and CA. Alok Kumar Agrawal — effective April 16, 2026. Both directors were appointed on April 17, 2025, for a one-year term as per Government of India orders. Their cessation was due to completion of tenure as mandated by the Department of Fertilizers, Ministry of Chemicals & Fertilizers. The company clarified that the cessation is not due to any other reason, indicating routine expiry of term rather than any dispute or governance concern.
The departure of two Independent Directors simultaneously is a routine event for a PSU like Madras Fertilizers, as government nominees typically serve fixed tenures. Shareholders should monitor for replacement appointments to ensure board composition remains compliant with SEBI regulations.