Disclosure under Regulation 30 for resignation of Deep Ashda Lalvani as Director
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Mr. Deep Ashda Lalvani has resigned as Whole Time Director and Chief Financial Officer of the company, effective 27th May 2025. The reason given is a change in control of the company pursuant to a Share Purchase Agreement dated 21st March 2025 signed between the existing promoters and new acquirers, indicating an ongoing takeover process. The filing references both Thrive Future Habitats Ltd (as per BSE source) and Ador Multi Products Limited (in the sign-off), suggesting the takeover may involve a renaming or restructuring. The letter of resignation has been submitted as an annexure.
This resignation is tied to a takeover, meaning new owners are replacing existing management. Shareholders should expect more board-level changes as the new acquirers install their own team. Near-term focus should be on who the replacement directors and CFO will be, as that will signal the new owners' direction for the company.