Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.
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Vaxfab Enterprises Ltd has informed the stock exchanges about the resignations of two Non-Executive Independent Directors, Ms. Chinu Kalal (DIN: 09568622) and Mr. Premaram Jaitaram Patel (DIN: 09324872), both effective April 1, 2025. Both directors cited pre-occupation with other professional assignments as the reason and confirmed there are no other material reasons for their departure. Mr. Patel held independent directorships in five other listed/unlisted companies, including Darjeeling Ropeway Company, Aten Papers & Foam, and Orbit Pharma Laboratories, where he chaired audit and nomination committees. The resignations have been filed under SEBI LODR Regulation 30, with detailed disclosures enclosed as annexures.
The simultaneous exit of two independent directors on the same day could weaken the board's independence quotient and may raise governance questions for this small-cap Surat-based company. Shareholders should watch for timely appointment of replacement independent directors to ensure compliance with minimum board composition norms.