Unitech Limited has informed the Exchange regarding Resignation of Mrs. Uma Shankar as Nominee Director (Non-Executive) of the company w.e.f. March 07, 2026.
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Mrs. Uma Shankar, a Nominee Director (Non-Executive) appointed by the Ministry of Corporate Affairs, has resigned from Unitech Limited's Board effective March 7, 2026. She cited personal reasons for her resignation. Mrs. Shankar was originally appointed by the MCA in October 2022 following Supreme Court orders directing the constitution of a new Board for Unitech. The MCA has confirmed her resignation via an order dated March 25, 2026. The filing was delayed, which the company attributed to an oversight. Additionally, another potential nominee, Ms. Rasika Chaube, expressed unwillingness to join the Board.
The resignation of a government nominee director adds to governance uncertainty for Unitech, which has been under Supreme Court monitoring since the original intervention in 2019-2020. Shareholders should monitor for replacement appointments by the MCA.