Took note of the intimation received from Mr. Jash Dalia Independent Director for not seeking re-appointment for a second term upon completion of his first term at the close of business ....
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Mr. Jash Dalia, Independent Director of Ridhi Synthetics Ltd, will complete his first 5-year term on March 29, 2026. He has informed the company that he does not wish to be re-appointed for a second term. His original appointment was made at the 40th AGM in July 2021, effective from March 30, 2021. The company has disclosed this to the stock exchange as required under SEBI's July 2023 circular on board changes.
This is a routine end-of-term event and not a sudden resignation. Shareholders should note that the board will need to fill this independent director vacancy in due course to comply with SEBI's minimum board composition requirements, which could be a minor governance watchpoint.