Mr. Sanjay Kumar Palecha has tendered his resignation vide letter dated 08.03.2025 as the Whole-time director of the Company
Awaiting price reaction for this filing.
Mr. Sanjay Kumar Palecha has stepped down as Whole-time Director of Videocon Industries Ltd, effective March 8, 2025, citing retirement as per company policy (his date of relieving from employment was March 8, 2025). He also gave up his role as 'Occupier' of the company's factory at Chittegaon, Taluka Paithan, District Aurangabad. He had served on the board for roughly 1.5 years and does not hold directorship in any other listed entity. The resignation was received by the Resolution Professional and will be placed before the Committee of Creditors, since the company continues to be under the Corporate Insolvency Resolution Process (CIRP) since the NCLT order of June 6, 2018. The intimation to the exchanges was signed by another Whole-time Director, Mr. Amol Ashok Mandlik.
This is a routine retirement-driven exit and not a sudden or controversial departure, so near-term stock impact is likely limited. However, Videocon remains under CIRP, and any further board changes will continue to be overseen by the Resolution Professional and Committee of Creditors, keeping governance uncertainty intact.