Disclosure for the change in designation from Independent category to Non -Independent Non executive category.
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Padam Cotton Yarns Limited held a board meeting on February 9, 2026, and approved its unaudited standalone financial results for the quarter and nine months ended December 31, 2025, along with the limited review report by statutory auditors. The board also accepted the resignation of Mr. Mahendra Singh (DIN: 07684132) as a Non-Executive Director from the close of business hours that day. Additionally, Mr. Ashutosh Allaru (DIN: 07618648) was reclassified from Non-Executive Independent Director to Non-Executive Non-Independent Director, and will now be liable to retire by rotation. Mr. Allaru holds a bachelor's degree in Arts and has experience in travel, hospitality and accommodation sectors.
Reclassifying an Independent Director as Non-Independent reduces independent oversight on the board, which is a governance concern for minority shareholders and could affect investor confidence. The concurrent resignation of another director further shrinks the board composition, so shareholders should watch for any drop in independent director strength below SEBI's required threshold.