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Oriental Rail Infrastructure has announced a change at the board level. Mr. Suresh Mane, an Independent Director, retired after completing his full two terms of 5 years each (10 years in total), with his exit effective from the close of business on June 12, 2025. To fill the vacancy, the board appointed Mr. Nilesh V. Parikh as an Additional Director (Non-Executive Independent) for a 5-year term starting June 9, 2025, subject to shareholder approval at the next AGM. Mr. Parikh is a Chartered Accountant with over 23 years of experience in taxation, auditing, and financial advisory, and is currently also an Independent Director at Startek Finance Limited. He is not related to any existing directors, KMPs, or promoters of the company and is not barred by SEBI from holding directorship.
This is a routine, planned transition at the board level with no disruption to operations or management. The incoming director brings strong finance and compliance expertise, which may strengthen board oversight. Shareholders are unlikely to see any material impact on the stock price.