Vardhman Special Steels Limited has informed the Exchange regarding Cessation of Mr Sanjoy Bhattacharyya as Non- Executive Independent Director of the company w.e.f. September 24, 2025.
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Vardhman Special Steels informed the exchanges that two directors ceased to hold office at the conclusion of its 15th Annual General Meeting on September 24, 2025. Mr. Sanjoy Bhattacharyya, Independent Director, stepped down after completing his second consecutive term as required by SEBI rules for independent directors. Mr. Rajeev Gupta, Non-Executive Non-Independent Director, retired by rotation and chose not to seek re-appointment at the AGM. Both exits were disclosed under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The AGM itself was brief, lasting under 30 minutes (10:00 a.m. to 10:28 a.m.).
These are routine board exits - one driven by the mandatory end of an independent director's tenure and the other by a voluntary decision not to seek re-appointment. Shareholders should expect announcements about new appointments to fill the vacant board seats. The exits themselves are unlikely to have a material impact on the stock as they follow standard governance processes.