Sita Sunil has completed her 1st term of five year as Independent Director and ceased to be director of the company with effect from closure of business hours on 06.04.26
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Smt. Sita Sunil (DIN: 00041722) has completed her first five-year term as an Independent Director of Simplex Papers Ltd and ceased to be a director effective close of business on 6th April, 2026. In addition, she stepped down as Chairperson of the Audit Committee and Nomination & Remuneration Committee, and as a Member of the Stakeholders' Relationship Committee. The board has restructured these committees, with Shri Manish Harshey now chairing all three. Post this change, the board comprises only 3 directors — Shri Manish Harshey (Independent), Shri Shekhar Singh (Non-Executive), and Smt. Fatima Fernandes (Non-Executive), reducing the number of Independent Directors from two to one.
The company now has only one Independent Director against the SEBI requirement of at least half the board being independent for a listed company with a non-executive chairman, which could raise governance concerns. Shareholders should monitor for the appointment of a replacement Independent Director.