SEL MANUFACTURING COMPANY LIMITED has informed the Exchange about Resignation of Independent director.
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SEL Manufacturing Company has informed the exchanges about the resignation of two independent directors, effective from the close of business hours on 29 July 2025. Mrs. Seema Singh (DIN: 10042852) stepped down as Independent Director, where she was also Chairman of the Nomination and Remuneration Committee and a member of the Audit and Stakeholders Relationship Committees. Mr. Manjit Singh Kochar (DIN: 08298764) resigned as Independent Director cum Chairperson of the Board; he was also Chairman of the Audit Committee and a member of three other board committees. Both cited personal/professional commitments and confirmed there are no other material reasons for their departure. Mrs. Seema Singh continues as Independent Director at PNC Infratech Limited.
Losing two independent directors on the same day — including the Board Chairperson and the Audit Committee Chairman — is a significant governance event for SEL Manufacturing. The company now needs to quickly reconstitute its Board, Audit Committee, and Nomination & Remuneration Committee to stay compliant with SEBI rules on independent directors and committee composition, which may weigh on the stock in the short term.