Resignation of Mr. Ketan Harsukhlal Sanghvi as a non-executive independent director due to health reasons
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Trustedge Capital Ltd announced the resignation of Mr. Ketan Harsukhlal Sanghvi as Non-Executive Independent Director effective May 12, 2026, citing health reasons. He also stepped down as Chairman of the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee. The company confirmed no other material reasons for his resignation. Additionally, the board approved audited standalone financial results for Q4 and FY ended March 31, 2026, re-appointed M/s MGP & Associates as internal auditors for FY2026-27, and designated Mr. Somit Bhandari (Business Head - Credit & Strategy) and Mr. Chetan Khosla (Business Head) as Senior Management Personnel, both with extensive experience in banking and financial services.
The resignation of an independent director who chaired multiple board committees represents a governance concern as it reduces board independence and committee oversight at a financial services company. Shareholders should monitor for timely appointment of replacement independent director to maintain committee functionality.