Revised Intimation under Reg.30 of SEBI (LODR) Regulations,2015 - Resignation of Independent Director
Awaiting price reaction for this filing.
Dugar Housing Developments Limited has informed the stock exchange that four directors resigned from the board on November 13, 2025, with the board accepting the resignations on November 14, 2025. The outgoing directors are Whole Time Director Lakshmaiah Devarajulu, Executive Director Tikamchand Rakhi, and Independent Directors Suresh Rajasekar and Zakir Hussain Munavar. All four cited personal reasons and pre-occupation. Independent Director Suresh Rajasekar also holds a directorship in IYKOT Hitech Toolroom Limited. Each independent director confirmed there are no other material reasons behind their exit. This is a revised intimation filed at BSE's request to include the listed entity directorships of the resigning independent director.
A mass exit of four directors, including the Whole Time Director and both independent directors, raises governance concerns and may lead to short-term volatility. Investors should watch for the appointment of replacements to restore board composition and independence requirements.