Completion of tenure of Independent Directors. as Independent Director of the company on March 27, 2026.
MRPL · price
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Four Independent Directors of MRPL — Shri. Rajkumar Sharma, Shri. Manohar Singh Verma, Shri. Pankaj Gupta, and Ms. Cheruvally Nivedita Subramanian — have completed their tenure on March 27, 2026, and ceased to be Independent Directors effective March 28, 2026. The directors held key committee positions including chairmanships of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and CSR Committee. MRPL is a subsidiary of ONGC. No reason for resignation was applicable as this is a tenure completion, not a voluntary resignation.
With four Independent Directors exiting at once, the board will need to appoint new independent directors to maintain SEBI-mandated composition. Until new appointments are made, the company may face compliance issues with minimum independent director requirements, though this is a routine governance transition for a PSU subsidiary.