The Board of Directors in its meeting held on 19 May 2026, considered and approved resignation of whole-time Director with effect from the closing hours of 30 June 2026.
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The Board of Directors of TCI Industries Ltd approved the resignation of Mr. Sunil K. Warerkar (DIN: 02088830) from his position as Whole-Time Director (designated as Executive Director), effective from the closing hours of 30 June 2026. Mr. Warerkar cited personal reasons for his resignation. He had served the company first as President and then as Whole-Time Director. His resignation letter references his tenure spanning years with record revenue of Rs. 5 Cr+ and mentions an ongoing legal matter that the company is seeking to resolve for asset monetization. The resignation was originally submitted on 31 March 2026.
The departure of a Key Managerial Personnel (KMP) could raise governance concerns, especially given the reference to an unresolved legal matter. Investors should monitor for replacement appointments and updates on the company's legal proceedings.