Disclosure under Reg 30 for resignation of Mr. Suneil C. as Independent Director
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Mr. Suneil Chawla has stepped down as Non-Executive Independent Director of the company with effect from 27th May 2025. The reason cited is the change of control of the company, linked to a Share Purchase Agreement dated 21st March 2025 between the existing promoters and new acquirers (a takeover). The director has confirmed there are no other material reasons for his exit beyond those disclosed. The company has filed the resignation letter and required details with BSE under SEBI Listing Regulations.
This is a routine post-takeover board change and is not negative on its own. Shareholders should watch for announcements about new Independent Director appointments, as a reconstituted board could signal fresh strategic direction under the new promoters.