PFA the reason for delay in intimation of Appointment of Additional Non-Executive Independent Director under Regulation 30 of SEBI (LODR) Regulations, 2015
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The company has explained to BSE why it delayed disclosing the appointment of Mr. Arkalgud Suryanarayana Sundar (DIN: 10978998) as Additional Non-Executive Independent Director for a five-year term from 31st July 2025 to 30th July 2030, subject to shareholder approval. The board approved the appointment on 31st July 2025, but the disclosure to the stock exchange was filed after the 12-hour deadline set by SEBI. The company attributed the delay to inadvertent procedural oversight and intervening non-working hours and said it is strengthening internal compliance to avoid recurrence.
The delayed disclosure has drawn a formal observation from BSE regarding a compliance discrepancy, raising minor governance red flags. Short-term sentiment may be slightly negative, but the appointment itself is routine and will require shareholder approval at the upcoming AGM.