Resignation of Independent Director
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Shree Ganesh Elastoplast has informed the BSE that two of its Independent Directors have left the board. Mrs. Binaben Vijaybhai Patel (DIN: 07121537) resigned after completing two consecutive 5-year terms as a Non-Promoter, Non-Executive Independent Director, with her term expiring on 30 September 2025. Separately, Mr. Harishbhai Ratilal Mehta (DIN: 05316274), who was the Chairman of both the Audit Committee and the Nomination & Remuneration Committee, passed away on 7 August 2025 and is deemed to have vacated office from that date. The board, at its 3 October 2025 meeting, accepted both developments and has reorganized all three sub-committees (Audit, Nomination & Remuneration, and Stakeholders Relationship) with the remaining directors — Rajesh Chinubhai Sutaria, Kush Jigenbhai Shah, and Nikita Rajan Shah — reshuffled into new chair and member roles. No other material reasons were cited for the resignation, and Mrs. Patel was not on any board committee.
This is a routine board-level change with no governance red flags — one departure is a natural end of tenure and the other is due to the director's death. Shareholders should note the Audit Committee now has a new Chairperson, which may have a minor transitional effect, but the company still meets the required composition of independent directors.