United Polyfab Gujarat Limited has informed the Exchange regarding Appointment of Kamal M. Shah & Co. as Other of the company w.e.f. March 31, 2026.
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United Polyfab Gujarat Limited's Board of Directors met on March 31, 2026 and made two key decisions. First, the company appointed M/s. Kamal M. Shah & Co., a Practicing Chartered Accountant firm, as Internal Auditor for FY 2025-26 to comply with Section 138 of the Companies Act, 2013. Second, Ms. Rashmi Kamlesh Otavani tendered her resignation as Non-executive Independent Director effective March 30, 2026, citing pre-occupation elsewhere as the reason. Ms. Otavani confirmed there are no material reasons behind her resignation beyond what was stated. She holds independent directorships in two other listed companies: Madhusudan Masala Limited and Yuranus Infrastructure Limited.
The resignation of an Independent Director reduces board independence and may raise concerns about governance stability, particularly given she was the sole resigning director. The appointment of an internal auditor is routine compliance. Shareholders should monitor for replacement appointment to maintain board composition requirements.