The Grob Tea Company Limited has informed the Exchange about Resignation of Independent Director and Appointment of Independent Directors and Re-appointment of Managing director
GROBTEA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Grob Tea Company Limited held its Board meeting on 13 May 2026 and approved several key items. The company declared a dividend of Rs 2 per share for FY 2025-26. Mr. Balkrishna Singhania resigned as Independent Director due to personal reasons effective 13 May 2026. To fill the vacancy, the board appointed Mr. Kishan Kejriwal and Mrs. Nidhi Shah as Additional Non-Executive Independent Directors. Mr. Pradeep Kumar Agarwal was re-appointed as Managing Director for 3 years from 30 June 2026. Additionally, the Statutory Auditor M/s G A R V & Associates resigned citing fee disputes related to increased workload from entity acquisitions, and M/s B Nath & Company was appointed as the new auditor. The board also approved related party transactions up to Rs 5 crore each with Banka Enterprises Private Limited and K L Support Private Limited.
The resignation of an independent director and mid-term change of statutory auditor due to fee disputes may raise governance concerns for investors. However, the appointment of two new independent directors and continuation of the managing director provides stability to the board composition. The dividend declaration is positive for shareholders.