New independent director appointed; board approves sale of closed plant land
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Simplex Papers' board on 16th June 2026 approved: (1) appointment of Shri Shrikrushna N. Pawar as Additional Non-Executive Independent Director, subject to shareholder approval; (2) re-designation of Smt Fatima Fernandes from Non-Executive Independent Director to Non-Executive Director, withdrawing her earlier May 2026 independent director approval; (3) sale/transfer of land at the closed Gondia paper plant in Maharashtra, subject to shareholder approval. No buyer or consideration has been finalised; sale targeted within one year of approval.
Asset sale may unlock value from closed plant. Governance concern: newly-appointed independent director re-designated within a month, losing independent status.