SEL Manufacturing Company Limited has informed the Exchange regarding Resignation of Mr Manjit Singh Kochar as Chairman of the company w.e.f. July 29, 2025.
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SEL Manufacturing Company Limited has informed the stock exchanges that two independent directors have resigned effective from the close of business hours on July 29, 2025. Mrs. Seema Singh (DIN: 10042852) stepped down as Independent Director, also vacating her roles on the Audit Committee, Stakeholders Relationship Committee, and as Chairperson of the Nomination and Remuneration Committee. Mr. Manjit Singh Kochar (DIN: 08298764) resigned as Independent Director cum Chairperson, also stepping down from the Audit Committee (as Chairman), Stakeholders Relationship Committee, Risk Management Committee, and Nomination and Remuneration Committee. Both cited personal and professional commitments as the reason and confirmed there are no other material reasons for their exit.
Two independent directors, including the Board Chairperson and the Audit Committee Chairman, leaving on the same day raises governance and board-stability concerns. Investors may view this negatively in the short term, as the company will need to quickly fill critical independent oversight roles to stay compliant with SEBI board composition norms.