Additional Discoursers required for Resignation of Independent directors in continuation with the disclosure given yesterday i.e on June 20, 2025
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Oxygenta Pharmaceutical Ltd, a subsidiary of Virupaksha Organics Limited, has filed additional disclosures regarding the resignation of two Non-Executive Independent Directors effective June 20, 2025. Mr. Bharath Reddy Guntuku (DIN: 09737242) and Mrs. Padmaja Surapureddy (DIN: 05358127) both stepped down citing the successful completion of a takeover of the company and the subsequent change in management. Both directors confirmed there are no other material reasons for their resignation beyond the management change. This filing is a continuation of a disclosure made on June 20, 2025, providing the detailed reasons now required by SEBI regulations.
The simultaneous exit of both independent directors is a typical step after a change of ownership, as the new management typically appoints its own nominees to the board. Shareholders should watch for announcements of new director appointments by the incoming management in the coming weeks.