Revised Intimation of Resignation of Shri. Chintamani D. Thatte, Shri. Dashrath B. Pawaskar and Shri. Vaibhav P. Mandhana.
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Virat Industries has submitted a revised intimation to BSE regarding the resignations of three Independent Directors: Shri. Chintamani D. Thatte (effective Sept 2, 2025, due to pre-occupation), Shri. Dashrath B. Pawaskar (effective Sept 3, 2025, due to personal commitments), and Shri. Vaibhav P. Mandhana (effective Sept 4, 2025, due to personal reasons). The original intimation dated Sept 4 was revised because it lacked certain required disclosures under the SEBI circular dated July 13, 2023. All three directors have confirmed in their resignation letters that there are no other material reasons behind their departure. The resignations have taken effect on consecutive days, leaving the company to reconstitute its independent director lineup.
Three independent directors exiting within three days is unusual and could raise governance and board-composition concerns, though no material reasons were flagged. Shareholders should watch for timely appointment of new independent directors to ensure SEBI-mandated board composition is maintained.