SEL Manufacturing Company Limited has informed the Exchange regarding Resignation of Mrs Seema Singh 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 resignations of two Independent Directors effective from the close of business on July 29, 2025. Mrs. Seema Singh (DIN: 10042852) stepped down as Independent Director and also gave up her roles on the Audit Committee, Stakeholders Relationship Committee, and as Chairman of the Nomination and Remuneration Committee. Mr. Manjit Singh Kochar (DIN: 08298764) resigned as Independent Director cum Chairperson, vacating his position as Chairman of the Audit Committee and his seats on the Stakeholders Relationship Committee, Risk Management Committee, and Nomination and Remuneration Committee. Both cited personal commitments and pre-occupancy as the reason, and each confirmed there are no other material reasons for stepping down. The company has filed this under Regulation 30 of the SEBI LODR Regulations along with their resignation letters as required.
The simultaneous loss of two Independent Directors, including the Board Chairperson and the Audit Committee Chairman, is a significant governance event for shareholders. This may raise concerns about board continuity and independent oversight until replacements are appointed, and could lead to compliance issues if the company fails to meet minimum independent director requirements under SEBI rules.