In response to SEBI query LODR, on the resignation of independent Director Mr. Jayaraman Madhusuthan this information is being re-submiited
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Shanti Guru Industries Ltd has resubmitted information to BSE in response to a SEBI query regarding the August 25, 2025 board changes. Independent Director Mr. Jayaraman Madhusuthan (DIN 09841051) resigned effective August 25, 2025 due to personal reasons, before his 5-year term ended. The company also disclosed that on the same date, CFO Mr. Mahipal Sanghavi resigned and was replaced by promoter Mr. Shripal Sanghavi. Promoter Ms. Sarika Sangavi was appointed as Additional Director, and Mr. Santosh Choudannanavar joined as Independent Director. The company is struggling with retail margins and plans to set up a food products manufacturing facility in Krishnagiri while selling its 150-cent freehold land in Madhavaram to raise working capital.
Multiple board-level changes in one day signal significant churn, with promoter family members taking on key roles (CFO and Director), which may raise corporate governance concerns among investors. The planned land sale and shift to food manufacturing suggest a strategic pivot away from the struggling retail business.