Resignation of Director and CFO
Awaiting price reaction for this filing.
Mr. Bharat Patel (DIN: 00249234) has resigned from his positions as Director and Chief Financial Officer of Classic Filaments Ltd, effective from the close of business hours on March 22, 2026. The resignation follows the successful completion of an Open Offer made by Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal (the Acquirers), which has resulted in a change in control and management of the company. Mr. Patel has confirmed there are no other material reasons for his resignation beyond the change in control, and he does not hold any other directorship or KMP position in any listed company. The company has disclosed that he will extend cooperation for a smooth transition.
This is an expected outcome of the change in control triggered by the Open Offer — the outgoing promoter-aligned director and CFO is stepping down so that the new acquirers (Bansal/Jain/Jindal group) can install their own management team. Shareholders should watch for subsequent announcements of new director and CFO appointments by the new promoters.