MELSTAR INFORMATION TECHNOLOGIES LIMITED has informed the Exchange about Resignation of Independent director.
Awaiting price reaction for this filing.
Uttam Prakash Agarwal has resigned from the positions of Non-Executive Chairman and Independent Director of Melstar Information Technologies Limited, effective 23rd March 2026. He cited preoccupation with other professional commitments as the reason for not being able to devote adequate time to the company. Agarwal holds DIN 00272983 and also serves on the boards of Zee Entertainment Enterprises Limited and 3I Infotech Limited. The company has been asked to file the necessary forms, including e-Form DIR-12, with the Registrar of Companies.
Loss of the Non-Executive Chairman and an Independent Director may create a temporary governance gap; the board will need to fill these positions to maintain compliance with minimum director requirements, which could be viewed as a mild negative signal by investors.