Intimation of completion of tenure of Mr. Sujal Shah (DIN 00058019) and Mr. Gautam Chakravarti (00004399) Independent Director of the Company.
MAFATIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mafatlal Industries has informed BSE that Mr. Sujal Shah (DIN 00058019) and Mr. Gautam Chakravarti (DIN 00004399) ceased to be Independent Directors of the company with effect from May 30, 2025. The reason is the completion of their second consecutive five-year term as Independent Directors, in line with SEBI's tenure limits for such roles. The Board has recorded its appreciation for their contributions to governance and strategic direction. No reasons related to disagreement, performance, or governance concerns have been disclosed. The filings (Annexure A and Annexure B) provide standard disclosures with no additional remarks from either director.
This is a routine, planned board change and is unlikely to affect the stock price materially. Investors should watch for the appointment of new Independent Directors to fill these vacancies, as the composition of the audit and other board committees may need to be reconstituted.