With reference to the announcement filed by us on 12.05.2025 in respect of resignation of Mrs. Heena Vinay Kalantri, Non-Executive Director of the Company, we are furnishing herewith the ....
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The company is replying to a discrepancy notice raised by BSE on 13th May 2025 regarding the resignation of Mrs. Heena Kalantri, a Non-Executive Director. Her resignation letter was dated 31st March 2025, but the Board formally noted it in its meeting on 12th May 2025, and the announcement was filed with the stock exchanges the same day. BSE had flagged that the intimation was not made within 24 hours of the effective date of resignation. The company argues that it complied with SEBI LODR Regulation 30 timelines by disclosing on the date the Board took note of the resignation, rather than the date of the actual resignation letter.
No material financial impact, but a governance flag from BSE over disclosure timeliness is a minor red flag. The departure of a non-executive director is otherwise routine and does not directly affect operations or shareholder value.