SML ISUZU LIMITED has informed the Exchange about Resignation of Independent director.
SMLMAH · price
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Two Independent Directors of SML Isuzu Limited — Atima Khanna and Sanjeev Mehan — have resigned from the Board effective from the conclusion of the Board meeting held on 1st August 2025. Both directors cited the recent change in control of the company as the reason for stepping down. Their resignations follow the sale of shares by the company's existing promoters to Mahindra & Mahindra Limited. As a result, key committee positions will fall vacant — including the chairmanship of the Nomination & Remuneration Committee, CSR Committee, Stakeholders Relationship Committee, and memberships on the Audit Committee and Risk Management Committee. Both directors confirmed there are no other reasons for their resignation and no pending claims against the company. The resignations pave the way for the new management (Mahindra & Mahindra) to reconstitute the Board.
This is a routine but expected development following the change in ownership to Mahindra & Mahindra. It signals a near-term Board reconstitution under the new promoter group. While the resignations themselves are not negative, shareholders should expect new director appointments in the coming weeks as Mahindra reshapes the Board.