Resignation of Manish Vilas Lonari as Independent Director. Details are attached herewith.
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Mr. Manish Vilas Lonari has resigned from the position of Non-Executive Independent Director of Thakkers Developers Ltd, effective close of business hours on September 30, 2025. His tenure had not yet expired. According to the filing, the resignation is part of a broader plan where all Independent Directors recommended to the Board the reconstitution of the Independent Director panel to bring in diversity, fresh perspectives, and strengthen governance. The director confirmed there are no other material reasons for his exit, and no governance concerns were flagged.
This is a planned, board-led refresh of independent directors rather than a sudden or controversial exit. For shareholders, it signals the company is proactively restructuring its board composition, though it could also mean more resignations from the Independent Director panel are likely to follow in the coming days.