Safari Industries (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on May 19, 2026.
SAFARI · price
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Safari Industries' board meeting on 19th May 2026 resulted in several key leadership changes. Two independent directors - Sridhar Balakrishnan and Aseem Dhru - were reappointed for second 5-year terms (effective August 2026 and November 2026 respectively), pending shareholder approval. Mr. Rahul Kanodia resigned as Non-Executive Independent Director effective 20th May 2026, citing his son's upcoming marriage with the daughter of Chairman & MD Sudhir Jatia as a conflict of interest. Mr. Vineet Poddar also tendered his resignation as CFO effective 30th June 2026 to pursue external opportunities. The board appointed Mr. Abhijaat Sinha as Company Secretary, Compliance Officer and Nodal Officer effective 17th June 2026. Additionally, the Nomination and Remuneration Committee was reconstituted following Kanodia's exit, and the 46th AGM was scheduled for 4th August 2026.
The resignation of an independent director citing a family relationship with the promoter is a governance concern and may attract regulatory scrutiny. The CFO departure creates uncertainty around financial leadership continuity ahead of the AGM. Shareholders should monitor the upcoming appointments and related party disclosures.