Ujjivan Small Finance Bank Limited has informed the Exchange regarding Change in Director(s) of the company.
UJJIVANSFB · price
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Ujjivan Small Finance Bank has informed exchanges that Ms. Anita Ramachandran, an Independent Director (DIN: 00118188), will complete her tenure on June 30, 2025 and will not be re-appointed. Earlier, at an EGM on March 28, 2025, shareholders were asked to approve her re-appointment effective July 1, 2025 via a special resolution. However, the bank has now admitted that due to a lack of procedural clarity in interpreting Regulation 25(2A) of the SEBI LODR, the resolution was inadvertently treated as approved. Since the special resolution did not actually secure the requisite majority, it is being treated as withdrawn, and her re-appointment will not take effect. The bank has stressed its commitment to corporate governance and transparency in making this disclosure.
This is a procedural governance disclosure rather than a sudden exit, so near-term stock impact is likely limited. However, investors may note the self-disclosed compliance lapse around a special resolution process, which could draw regulatory scrutiny. Shareholders should watch for the appointment of a new Independent Director to fill the vacancy on the board.