Submission of Intimation on resignation of Independent Directors
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Awaiting price reaction for this filing.
SMT Engineering Ltd informed the stock exchanges that three Independent Directors — Mr. Yogesh Arvindbhai Bhuva, Mr. Deepak Vyas, and Ms. Mitwa Nayan Shah — have resigned from the Board with effect from October 3, 2025. All three cited 'other professional commitments' as the reason and confirmed there are no other material reasons for their exit. Mr. Bhuva also stepped down as Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, while the other two resigned as members of these committees. The company appreciated their contributions and has made the required SEBI disclosures.
Loss of three independent directors at once weakens board composition and committee oversight, and the company will need to appoint new independent directors soon to stay compliant with SEBI listing rules. For shareholders, this is a governance change to watch, though the stated reason appears routine.