Resignation of Independent Director approved on the Board meeting conducted on 13th August 2025
Awaiting price reaction for this filing.
OTCO International Ltd has informed the BSE that Mr. Shaine Sunny Mundaplakkal (DIN: 06429415) has resigned as an Independent Director with effect from the close of business hours on 13th August 2025. The reason cited is his inability to clear the online proficiency self-assessment test conducted by IICA, which is required under Rule 6(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014 for continuing as an Independent Director. He has confirmed there are no other material reasons behind his resignation. The company has made this disclosure under Regulation 30 of SEBI LODR Regulations, 2015, with detailed annexures provided.
This is a routine board-level change with no governance red flags. The exit is due to a personal regulatory compliance issue (failure to pass a mandatory proficiency test) rather than any dispute. The company will need to fill this Independent Director vacancy in due course, but the immediate impact on shareholders or stock price is expected to be negligible.