RESIGNATION AS NON PROMOTER NON EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY BY MRS. BINA VIJAY PATEL AND DEATH INTIMATION FOR NON PROMOTER NON EXECUTIVE INDEPENDENT DIRECTOR MR HARISH RATILAL MEHTA
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Shree Ganesh Elastoplast Ltd has informed BSE that Mrs. Bina Vijay Patel (DIN: 07121537) resigned as Non-Promoter, Non-Executive Independent Director effective 03/10/2025 after completing her maximum permitted two terms of 5 years each as an Independent Director (term expired 30/09/2025). Separately, Mr. Harish Ratilal Mehta (DIN: 05316274), who served as Chairman of both the Audit Committee and the Nomination & Remuneration Committee, passed away on 07/08/2025, with the death certificate received by the company on 01/10/2025. The Board, at its meeting on 03/10/2025, accepted both changes and has reconstituted all three sub-committees (Audit, Nomination & Remuneration, Stakeholders Relationship) with Rajesh Chinubhai Sutaria as new Audit Committee Chairperson, Kush Jigenbhai Shah as Stakeholders Relationship Committee Chairperson, and Nikita Rajan Shah as Nomination & Remuneration Committee Chairperson.
Two independent directors have departed the board in quick succession, leaving the company temporarily short on independent oversight, though committee composition has been promptly reconstituted with existing independent directors. For shareholders, this is largely a procedural event with no immediate financial impact, but the loss of a long-serving audit committee chairman by death may warrant attention to continuity in financial oversight.