NLC India Limited has informed the Exchange regarding Cessation of Mr Vasant Ashok Patil as Non- Executive Independent Director of the company w.e.f. March 27, 2026, on completion of his term.
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NLC India Limited has informed the stock exchanges that three Independent Directors — Shri M. T. Ramesh, Dr. Vasant Ashok Patil, and Shri Pradeep Kumar Saraogi — ceased to hold office with effect from March 27, 2026, on completion of their one-year term. All three were appointed by the Ministry of Coal, the Administrative Ministry, as government-appointed independent directors. Consequently, they also stepped down as members/chairpersons of the respective Board committees. The company has filed the required disclosure under SEBI LODR Regulation 30.
This is a routine, planned end-of-term exit of three government-nominated independent directors and not a sudden resignation. Shareholders should watch for the appointment of new independent directors in due course, as the board's composition will need to be reconstituted to comply with SEBI's minimum independent director requirements.