Submission of disclosure under Regulations 30 of SEBI (LODR) Regulations, 2015
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Tirupati Starch & Chemicals announced board changes following a meeting on 30th May 2025. Mr. Amit Modi (Promoter) has been re-appointed as Managing Director for 3 years till 30.05.2028. Mr. Prakash Chand Bafna (Promoter) has been re-appointed as Whole-time Director and additionally as Chairman for the same 3-year period. Mr. Ramdas Goyal (Founder/Promoter) has also been re-appointed as Whole-time Director for 3 years till 30.05.2028. All three re-appointments are subject to shareholder approval at the upcoming 39th AGM. Additionally, Mr. Babu Lal Mangal will cease as Non-executive Independent Director from end of 15.06.2025 upon attaining 75 years, in line with SEBI Regulation 17(1A) age cap.
Continuity in leadership with promoter-led management team retained for another 3 years, which should be viewed positively for stability. The exit of an independent director is purely age-driven as per SEBI norms and not a governance red flag.