PANACEA BIOTEC LIMITED has informed the Exchange about Resignation of Independent director.
PANACEABIO · price
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Panacea Biotec Limited has informed the stock exchanges that CA Rajesh Jain (DIN: 10619014), a Non-Executive Independent Director, has resigned from the board effective close of business hours on June 30, 2026. He is also stepping down from the board of the company's material wholly-owned subsidiary, Panacea Biotec Pharma Limited. The reason cited is increasing professional commitments and time demands from evolving regulatory and governance requirements, which prevent him from devoting adequate attention to the role. He will also cease to be Chairman/member of all board committees, including the Audit Committee and Nomination & Remuneration Committee. He holds directorships in two other listed companies — Federal-Mogul Goetze (India) Limited and Sundrop Brands Limited — and has confirmed there are no other material reasons for his resignation.
This is a routine independent director exit with a 3-month transition period (March 30 to June 30, 2026) and no governance red flags raised by the outgoing director. The company will need to appoint a replacement independent director within the regulatory timeline to maintain board composition requirements, but the near-term impact on shareholders is expected to be limited.