Resignation of Mr. Santosh Unmegh as Independent Director of the Company.
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Pet Plastics Limited informed BSE that Independent Director Mr. Santosh Shahadeo Unmegh (DIN 10985200) resigned effective May 30, 2025, citing other professional commitments, with no material reasons beyond those stated. In the same board meeting on May 30, 2025, the Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified auditor opinion from Maheshwari & Co. The Board also appointed Mr. Harshad Narsinhbhai Patel as Additional Independent Director and Mr. Abhinath Shinde as Additional Managing Director, each for a 5-year term subject to shareholder approval. The filing dated June 2, 2025 is a revised submission addressing a SEBI discrepancy notice. The auditor's report flagged pending reconciliations of cash, trade receivables, loans, advances, trade payables, and GST compliance.
The independent director's exit appears routine with no governance concerns flagged, and two appointments have been made to fill the gap, supporting board continuity. Investors may note the auditor's emphasis of matter on pending reconciliations and GST compliance as items to watch, though FY25 standalone profit improved to Rs. 20.23 lakhs from Rs. 14.53 lakhs in the prior year.