Explanation to the intimation filed on 29th March, 2025 regarding reasoning for the resignation of Chief Financial Officer of the Company.
MANGALAM · price
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Awaiting price reaction for this filing.
Mangalam Drugs & Organics Ltd has clarified the reason behind the resignation of its Chief Financial Officer, Mr. Ajay Samant, which was previously intimated on March 29, 2025. The Company had inadvertently omitted the reason for resignation in the earlier filing. As per office guidelines on retirement age, Mr. Samant tendered his resignation on March 28, 2025, effective March 31, 2025. The Board noted the resignation at its meeting on March 29, 2025. The letter was signed by Chairman & Managing Director Govardhan M. Dhoot and filed with BSE on December 24, 2025.
This is a routine KMP change due to retirement-age policy, not a governance red flag. Shareholders should note the CFO position needs a replacement, but no negative implication for the stock is suggested.