Parag Milk Foods Limited has informed the Exchange regarding completion of term of appointment of Mr Nitin Dhavalikar as Independent Director of the Company w.e.f. July 27, 2025.
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Mr. Nitin Dhavalikar will cease to be the Independent Director of Parag Milk Foods effective July 27, 2025, on account of completing two consecutive 5-year terms (10 years in total). This is in line with SEBI norms that cap an independent director's tenure at two consecutive terms of five years each. The company has recorded its appreciation for his contributions. No successor has been named in this filing.
This is a routine regulatory disclosure and not an adverse event. Shareholders should watch for a separate announcement regarding the appointment of a new Independent Director to fill the vacancy on the board.