SIMBHAOLI SUGARS LIMITED has informed the Exchange about Resignation of Independent director.
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Mr. Har Prasad Kain, an Independent Director on the board of Simbhaoli Sugars Limited, has resigned effective June 8, 2025, citing personal reasons. His resignation was noted in the Interim Resolution Professional (IRP) convened meeting held on June 9, 2025, which indicates the company is currently under the Corporate Insolvency Resolution Process (CIRP). In his resignation email, Mr. Kain mentioned he was unable to attend the previously convened IRP meeting on May 30, 2025 (which was adjourned) and the subsequent one, before deciding to step down. He has confirmed there are no other material reasons for his departure. The company has disclosed his directorship in Simbhaoli Power Private Limited as required under SEBI Listing Regulations.
This is a routine board-level change, but the underlying context is important — the company is already under insolvency resolution, which is a significant concern for shareholders. The loss of an independent director during CIRP could potentially affect board composition and decision-making during the resolution process. Investors should monitor the CIRP progress closely, as the outcome will be a key value driver.