Resignation by Independent Directors
Awaiting price reaction for this filing.
Poddar Housing and Development Ltd has informed the stock exchanges that two of its Independent Directors — Mr. Suman Kumar Verma and Ms. Meenakshi Saini (Woman Independent Director) — have resigned from the Board effective 27 September 2025, citing personal reasons and preoccupation. Both directors confirmed that there are no material reasons for their resignation beyond what was stated in their letters. The disclosure to BSE and NSE was made on 12 January 2026, about three and a half months after the actual resignation date. The vacancies now need to be filled by the company within the timelines prescribed under SEBI LODR and the Companies Act.
The exit of both Independent Directors at the same time weakens the board's independent oversight and creates governance gaps that the company must fill promptly. Shareholders should watch for timely appointment of new independent directors, as a prolonged vacancy could invite regulatory scrutiny and may weigh on sentiment toward the stock.