Niva Bupa Health Insurance Company Limited has informed the Exchange regarding Resignation of Mr. Maninder Singh Juneja as Nominee Director (representing Fettle Tone LLP) of the company w.e.f. June 09, 2025.
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Mr. Maninder Singh Juneja has resigned as Nominee Director of Niva Bupa Health Insurance, effective June 9, 2025. He was sitting on the board as a representative of Fettle Tone LLP, one of the company's investors. The reason for his exit is that Fettle Tone LLP recently completed a transaction that brought its shareholding in Niva Bupa below 10% of the paid-up capital. Under IRDAI's 2024 regulations on insurer capital structure, any investor holding less than 10% cannot nominate a director to the board. Mr. Juneja has also stepped down from all board committees he was part of. The company has filed the resignation letter and required disclosures with the stock exchanges under SEBI's listing rules.
This is a routine, compliance-driven board change directly linked to a reduction in Fettle Tone LLP's stake below the regulatory threshold. There is no governance concern, dispute, or performance issue involved. Shareholders may note a change in board composition, but it is not expected to have any material impact on the company's business, operations, or stock price.