RAJ OIL MILLS LIMITED has informed the Exchange about Resignation of Independent director.
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Raj Oil Mills Limited has informed the stock exchanges about the resignations of two Independent Directors effective from the close of business hours on August 13, 2025. Mr. Siraj Umar Furniturewala resigned citing his engagement in other assignments; he was also the Chairman of the Stakeholder Relationship Committee. Mr. Arun Dash resigned citing preoccupation and personal commitments; he was a member of the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. Both directors confirmed there are no other material reasons for their resignations and neither holds directorship in any other listed entity. The company has not announced any new appointments to fill these positions yet.
The simultaneous exit of both Independent Directors raises governance concerns, as the company may now fall short of the minimum number of Independent Directors required under SEBI Listing Regulations. Shareholders should watch for the appointment of new independent directors; until then, this could negatively impact investor confidence and stock sentiment.