We wish to inform that Mrs. Lalitha Raghuram shall step down as an Independent Director on the Board effective from April 18, 2025 upon the completion of consecutive 2nd term.
Awaiting price reaction for this filing.
Mrs. Lalitha Raghuram has stepped down as an Independent Director of Nagarjuna Fertilizers and Chemicals Ltd effective April 18, 2025, upon completing her consecutive second term of five years. Under Section 149 of the Companies Act, 2013 and SEBI LODR Regulations, 2015, an independent director cannot serve more than two consecutive terms. The company has disclosed this change to BSE and NSE in the prescribed format. This is a routine, regulatory-driven end of tenure, not an unexpected departure.
This is a planned and routine transition with no negative implication for shareholders. Investors should monitor whether a replacement independent director is appointed in due course to maintain board composition requirements.