Reasons for delay in submission of resignation letter
Awaiting price reaction for this filing.
BSE had asked the company why it delayed filing the required disclosures for two director resignations under SEBI's listing rules. Two directors stepped down: Mr. Sivadas Chettoor on November 13, 2025, and Mrs. Indu Kamala Ravindran on November 14, 2025. The Board accepted both resignations on the same dates. The disclosure filings were delayed because the company's server was down, blocking access to emails and records needed to upload the paperwork. Once systems were restored, the company submitted the disclosures with all supporting documents. The company called the delay purely technical and assured better compliance in future.
Two directors exiting within two consecutive days is a notable board change that may raise governance questions among investors. However, the company has explained the disclosure delay as a technical glitch, not a deliberate omission, so the immediate impact on the stock should be limited but worth watching.