Southern Petrochemical Industries Corporation Limited has informed the Exchange regarding Cessation of Ms Apoorva, IAS as Non- Executive Nominee Director of the company representing Tamilnadu Industrial Development Corporation Limited w.e.f. May 22, 2025.
SPIC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
SPIC has informed the exchange that Ms. Apoorva, IAS has ceased to be a Non-Executive Nominee Director of the company effective May 22, 2025, following the withdrawal of her nomination by Tamilnadu Industrial Development Corporation Limited (TIDCO). TIDCO, a key promoter entity (Tamil Nadu government arm) on SPIC's board, has simultaneously nominated Thiru V. Dakshinamoorthy, IAS, currently serving as Agricultural Production Commissioner and Secretary to Government (Agriculture and Farmers Welfare Department), as the new TIDCO nominee director in her place. The company has stated that no relationship between directors is applicable and no brief profile has been provided for the outgoing director. The change has been disclosed under SEBI Listing Regulations read with the November 11, 2024 SEBI circular on changes in directors.
This is a routine nominee director change driven by TIDCO (a government promoter entity) reshuffling its representative on SPIC's board, and is unlikely to have any material impact on the company's operations, financials, or stock price. Investors should note that the TIDCO seat on the board will continue to be held by a serving IAS officer from the Tamil Nadu government, indicating continued promoter oversight.