Oberoi Realty Limited has informed the Exchange regarding vacation of office of Mr. Sanjay Shah as Additional (Independent Non-Executive) Director, and further re-appointment as Additional (Independent Non-Executive) Director.
OBEROIRLTY · price
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Oberoi Realty's Board has re-appointed Mr. Sanjay Shah as an Additional Director in the category of Independent Non-Executive Director for a 5-year term from June 16, 2025 to June 15, 2030, effective July 2, 2025. His office technically 'vacated' on the same day because under Section 161(1) of the Companies Act, an Additional Director can only hold office up to the date of the next AGM. He was originally appointed on June 16, 2025, but the AGM notice had already been dispatched on June 6, 2025, leaving no time to seek shareholder approval for his regularization at the 27th AGM held on July 2, 2025. The Board re-appointed him on the same day as a procedural fix to ensure continuity. Mr. Shah has 32+ years of experience in investment banking and capital markets, and was formerly the Country Head-India & Managing Director at Morgan Stanley India from 1996 to 2023.
This is a procedural continuation of an existing independent director's term with no actual change in board composition. No material impact on shareholders or the stock price is expected.