Cessation of Independent Director
Price
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On the reaction day the stock moved 4.1 pts less than Nifty Microcap 250 and 2.6 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mr. Aditya Chandra (DIN: 02559537) ceased to hold office as Non-Executive Independent Director of the company with effect from 19 September 2026, upon completion of his second term. The disclosure under SEBI LODR Regulation 30 was filed on 28 September 2026. The company attributed the delay in disclosure to a change in the Secretarial Department and time taken for internal verification of records. The company has apologized for the delay and stated it has strengthened internal processes to avoid recurrence.
This is a routine, scheduled exit due to completion of the director's tenure and does not indicate any governance crisis. The delayed disclosure may attract minor regulatory scrutiny but is unlikely to materially affect the stock price or shareholder interests.