Intimation of sad and untimely demise of Sri M Bhaskar (DIN: 02919393), Independent Director of the Company on 21 May 2025.
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Sakthi Finance Ltd has informed BSE about the sudden and unexpected demise of Sri M Bhaskar (DIN: 02919393), an Independent Director, on May 21, 2025. He was the Chairman of the Audit Committee, Corporate Social Responsibility Committee, and IT Security Committee, and also a member of the Nomination and Remuneration Committee, Asset Liability Management Committee, and IT Strategy Committee. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements. The company is yet to announce a replacement, and no appointment details were provided in this filing.
The vacancy on the board will need to be filled soon to comply with SEBI's minimum requirement for Independent Directors and to reconstitute key committees, especially the Audit Committee. For shareholders, this is a governance event rather than a financial one and is unlikely to materially impact the stock price, though the company will need to appoint a new Independent Director within the prescribed timeline.