Safari Industries (India) Limited has informed the Exchange about Resignation of Director/KMP/SMP
SAFARI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.3 pts more than Nifty Microcap 250 and 3.5 pts more than its Plastic Products - Consumer peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Safari Industries' Board meeting on 19th May 2026 approved re-appointment of two Independent Directors (Sridhar Balakrishnan and Aseem Dhru) for another 5-year term each. Mr. Rahul Kanodia resigned as Non-Executive Independent Director effective 20th May 2026, citing his son's forthcoming marriage with the daughter of Promoter-Chairman Sudhir Jatia, raising independence concerns. Mr. Vineet Poddar resigned as CFO (KMP) effective 30th June 2026 to pursue external opportunities after a decade with the company. Mr. Abhijaat Sinha was appointed as Company Secretary, Compliance Officer, and Nodal Officer effective 17th June 2026. The Nomination and Remuneration Committee was reconstituted following these changes.
The dual KMP resignations (CFO and Independent Director) within a short span may raise governance concerns for investors. The director's resignation due to family ties with the promoter highlights potential independence issues. The company will need to ensure smooth transition, especially for the CFO role ahead of the August 2026 AGM.