Non-Executive Independent Director resigns; ceases to be member of three board committees

Independent Director resigns.

Mon 5 Oct 2026

Resigning Director

Mr. Afsar Ismail Khan (DIN: 11189994)

Designation

Non-Executive Independent Director

Resignation Effective Date

5th October, 2026

Stated Reason

personal reasons

Committee Memberships Ceased

Audit, Nomination and Remuneration and Stakeholders Relationship Committees

What was announced

• Mr. Afsar Ismail Khan, Non-Executive Independent Director of the company, has resigned from that position with effect from 5th October, 2026, post closure of business hours.
• The reason recorded for the resignation is personal reasons.
• Consequent to the resignation, he also ceases to be a Member of the Audit Committee, the Nomination and Remuneration Committee and the Stakeholders Relationship Committee of the company.

What the resigning director stated

• In his resignation letter he confirmed that there are no other material reasons for his resignation other than those stated.
• He holds no directorships in other listed entities.
• He has expressed gratitude to the Board and the management for the cooperation, guidance and support extended to him during his tenure as an Independent Director.
• He requested the company to file the necessary forms with the Registrar of Companies and to intimate the stock exchange to give effect to his resignation.

How to read this

• This is a change at the board level: an independent director has stepped down, and with him the three committees he sat on will need to be reconstituted.
• The stated reason is personal, and the director has himself confirmed there are no other material reasons behind the exit.
• Committee compositions matter to investors because audit, nomination and remuneration, and stakeholder relationship matters are reviewed there. Any change in membership is normally followed by a fresh appointment or re-constitution.
• The announcement is an intimation of a management change, and it is the resigning director's own letter that accompanies it.

What to keep an eye on

• A subsequent disclosure on the appointment of a new independent director and the reconstitution of the three committees.

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