PSP Projects Limited has informed the Exchange regarding Cessation of Mr Vasishtha P. Patel as Non- Executive Independent Director of the company w.e.f. August 31, 2025.
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PSP Projects Limited announced that Mr. Vasishtha P. Patel will step down as Non-Executive Independent Director from the close of business on August 31, 2025, after completing his second and final term on the board. To fill the vacancy, the board approved the appointment of Mr. Girishkumar Singal as an Additional Non-Executive Independent Director for a first term of five consecutive years, effective September 1, 2025, subject to shareholder approval. Mr. Singal is a retired Indian Police Service officer (Inspector General rank) and M.Com graduate from Gujarat University, with prior experience in income tax and small-scale industries administration. He currently runs an NGO for underprivileged children and is not related to any existing director.
This is a routine, planned succession of an independent director at the end of his tenure, with a qualified replacement already lined up. No material impact on operations, financials, or shareholder value is expected, and the announcement is likely to be viewed as neutral by the market.