In terms of Regulation 30 read with Schedule III of SEBI (LODR), Regulations, 2015 attached is the resignation received from Mr. Niraj Variava (DIN: 09197068) as an Independent Director ....
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Sparc Electrex Ltd has informed the stock exchange that Mr. Niraj Hareshbhai Variava (DIN: 09197068) has resigned from his position as a Non-Executive Independent Director, effective from the close of business hours on 7th June 2026. The resignation is purely on account of the completion of his statutory 5-year tenure as an Independent Director. He has confirmed there are no other material reasons behind his exit and holds no directorships in any other listed entity. The board, at its meeting held on 6th June 2026, accepted the resignation and recorded its appreciation for his contributions during his term.
This is a routine, planned exit driven by the natural end of a 5-year tenure rather than any governance or performance issue, so it is unlikely to have a meaningful impact on the stock price or shareholder sentiment. The company will need to appoint a new Independent Director within the timelines prescribed under SEBI LODR and the Companies Act to maintain board composition compliance.