Magellanic Cloud Limited has informed the Exchange regarding Cessation of Mrs Nikitha Tiparnapally as Non- Executive Independent Director of the company w.e.f. February 25, 2026.
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Magellanic Cloud Limited has informed the exchanges that Mrs. Nikitha Tiparnapally (DIN: 07099613) will cease to be a Non-Executive Independent Director of the company with effect from February 25, 2026. This cessation is on account of the natural completion of her second consecutive term as an Independent Director, in line with SEBI's tenure limits under the Companies Act. The company has recorded its appreciation for her contributions during her tenure. No reasons of resignation, removal, or governance concerns were cited; the change is purely a routine end-of-term event. The disclosure was made under Regulation 30 of the SEBI Listing Regulations, with detailed particulars provided in Annexure A.
This is a routine regulatory disclosure with no material impact on the company's operations or financials. Shareholders should note that the board will need to fill the vacant independent director position to maintain statutory board composition. The stock price is unlikely to be affected by this announcement.