Intimation of Completion of tenure of Independent Director of the Company
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Patdiam Jewellery has informed the stock exchange that two of its Independent Directors — Mr. Prakash Amratlal Shah (DIN: 07280925) and Mr. Jayesh Manjibhai Avaiya (DIN: 07280939) — have ceased to hold office on the board. Both directors had completed their second 5-year term as Independent Directors, and their tenure formally ended on the date of this intimation. The board has placed on record its appreciation for their contributions over the years. The Managing Director, Mr. Samir Kakadia, signed the disclosure under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements. The company will need to fill these independent director positions in due course to maintain the required board composition under SEBI rules.
This is a routine governance event — the directors' exit was planned and due to the natural end of their term, not due to any controversy. The company will need to appoint new independent directors to stay compliant with SEBI's board composition norms, which investors should watch for as a follow-up announcement.