Vaxtex Cotfab Limited has informed the Exchange regarding Resignation of Mr Harsh Kothari and Ravi modi as Non- Executive Independent Director of the company w.e.f. December 29, 2025.
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On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 3.8 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vaxtex Cotfab Limited has informed the stock exchange about the resignation of two Non-Executive Independent Directors — Mr. Harsh Mahendrakumar Kothari (DIN: 09310696) and Mr. Ravi Jitendra Modi (DIN: 10932249) — effective from the close of working hours on December 29, 2025. Both directors cited personal reasons and other professional commitments for stepping down. Both have confirmed there are no other material reasons for their resignation. The resignations have been filed under SEBI Listing Regulations, with detailed annexures and resignation letters enclosed.
The simultaneous exit of two independent directors may raise short-term governance concerns, as independent directors play a key oversight role. The company will need to appoint new independent directors within the SEBI-mandated timeline to maintain board composition compliance. This could be mildly negative for investor sentiment in the near term.