Ramkrishna Forgings Limited has informed the Exchange regarding Cessation of Mr Sandipan Chakravortty as Non- Executive Independent Director of the company w.e.f. May 21, 2026 on account of completion of his 2nd term as an Independent Directors of the Company.
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Ramkrishna Forgings Limited held its Board meeting on May 1, 2026, approving several key items. The company declared an unmodified opinion on its audited financial results for FY ended March 2026 and announced a 1st Interim Dividend of Rs. 1 per equity share (record date: May 8, 2026). The board also allotted 1,64,413 equity shares to the Employee Welfare Trust under the ESOP Scheme 2023 at Rs. 556 per share, increasing paid-up capital to 18,18,35,017 shares. Two Independent Directors - Mr. Sandipan Chakravortty and Mr. Partha Sarathi Bhattacharyya - will cease to hold office from May 20, 2026 upon completion of their second term. Consequently, three board committees (Audit, Nomination & Remuneration, and Capital Market) were reconstituted effective May 21, 2026. Additionally, Mr. Naresh Jalan was re-appointed as Managing Director for 3 years from November 5, 2026, subject to shareholder approval at the 44th AGM scheduled for August 29, 2026.
The cessation of two independent directors reduces board independence and may raise governance concerns for investors, though it is a routine occurrence upon term completion. The dividend declaration and ESOP allotment are positive signals for shareholder returns and employee retention.