Disclosure under regulation 30 for the Resignation of Independent Director
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Awaiting price reaction for this filing.
Mafia Trends Ltd's board met on November 28, 2025 and approved two key changes. They appointed Mr. Dharmesh Mithabhai Patel as an Additional Non-Executive Independent Director for a 5-year term, subject to shareholder approval. Mr. Patel is a Commerce Graduate from Gujarat University with about 9 years of experience as a tax consultant and holds no shares in the company. At the same meeting, the board accepted the resignation of Mr. Amit Rameshbhai Uttamchandani as Independent Director, effective the same day, citing personal/professional commitments. The board also reconstituted certain committees following these changes.
This is a routine one-for-one replacement of an independent director with no governance red flags mentioned. The outgoing director confirmed there are no other material reasons for his exit. Shareholders will need to approve the new appointment at the next general meeting, but there is no clear negative signal for the stock.