Clarification of circulation of rumour in the Market
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ratnabhumi Developers has issued a clarification in response to rumours circulating on platforms like ScanX that Mr. Kaivan Shah, Chairman and Managing Director, has resigned. The company has explicitly confirmed that Mr. Kaivan Shah has not resigned and continues to actively serve as CMD. The letter, dated August 16, 2025, was signed by Kaivan Shah himself (DIN: 01887130). The company has urged stakeholders and the stock exchange to rely only on official company communications and disregard unverified sources.
This is a positive clarification that removes uncertainty around the leadership of the company. Short-term stock price volatility caused by the rumour may settle, and shareholders can be assured of management continuity.