NARMADA AGROBASE LIMITED has informed the Exchange about Resignation of Independent director.
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Narmada Agrobase Limited has informed the stock exchange about the resignation of two Non-executive Independent Directors with immediate effect from August 6, 2025. Gaurav Dineshkumar Agarwal (DIN: 09627363) has stepped down citing personal and unavoidable circumstances, relinquishing his chairmanship and committee memberships. Nidhi Dineshbhai Patel (DIN: 08014773) has also resigned for the same reasons and is additionally stepping down as Chairman of the Nomination and Remuneration Committee. Both directors have confirmed there are no other material reasons behind their resignations and hold no other directorships. The company will now need to fill two independent director positions to comply with SEBI listing requirements.
Simultaneous exit of both independent directors raises governance concerns, as the board will temporarily fall short of the mandatory independent director composition required under SEBI rules. This could lead to short-term stock price pressure and uncertainty until replacements are appointed within the stipulated timeframe.