SEL Manufacturing Company Limited has informed the Exchange regarding Resignation of Mr Manjit Singh Kochar as Non- Executive Independent Director of the company w.e.f. July 29, 2025.
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SEL Manufacturing Company Limited has informed the stock exchanges about the resignation of two independent directors effective July 29, 2025. Mrs. Seema Singh (DIN: 10042852) resigned as Independent Director, and Mr. Manjit Singh Kochar (DIN: 08298764) resigned as Independent Director cum Chairperson of the company. Both cited personal commitments and pre-occupancy as reasons and confirmed there are no other material reasons for their departure. As a result, the company has lost its Board Chairperson, the Chairman of the Audit Committee, and the Chairman of the Nomination and Remuneration Committee simultaneously. The resignations of two independent directors on the same day create a significant gap in the board's independent oversight structure.
Shareholders should note the simultaneous loss of two independent directors, including the Chairperson, which weakens board oversight until replacements are appointed. This may raise governance concerns and could put short-term pressure on the stock, though the company must appoint new directors within the timelines prescribed by SEBI to maintain regulatory compliance.