Independent Director Sanjay Anand ceases on completing second five-year term; board committees reconstituted

Mr. Sanjay Anand ceases to be an Independent Director at close of business on September 29, 2026, on completing his second term of 5 consecutive years.

Tue 29 Sep 2026

Director Cessation Date

September 29, 2026

Reason for Cessation

Completion of second term of 5 consecutive years under Section 149(11) of the Companies Act, 2013

Audit Committee Chair

Mr. Balakrishnan Venkatraman

NRC Chair

Ms. Archana Bhaskar

Audit Committee Members

5 members including Mr. Balakrishnan Venkatraman, Mr. Ankur Nand Thadani, Mr. Nachiket Madhusudan Mor, Dr. Ranjan Ramdas Pai and Ms.…

What happened

Mr. Sanjay Anand ceases to be an Independent Director of the company at the close of business hours on September 29, 2026.

The reason stated is completion of his second term of 5 consecutive years, pursuant to Section 149(11) of the Companies Act, 2013 read with Regulation 25 of the SEBI Listing Regulations. Indian law caps an independent director at two consecutive five-year terms, so this is an automatic, time-based exit rather than a resignation or removal.

The Board and Management recorded their appreciation for his contribution and guidance during his tenure.

Reconstituted committees (effective September 29, 2026)

• Audit Committee: Mr. Balakrishnan Venkatraman (Chairperson, Independent), with Mr. Ankur Nand Thadani (Non-Executive Non-Independent), Mr. Nachiket Madhusudan Mor, Dr. Ranjan Ramdas Pai and Ms. Archana Bhaskar as members.
• Nomination & Remuneration Committee: Ms. Archana Bhaskar (Chairperson), with Mr. Ankur Nand Thadani, Mr. Nachiket Madhusudan Mor and Mr. Venkatraman Balakrishnan.
• Stakeholders Relationship Committee: Mr. Venkatraman Balakrishnan (Chairperson), with Ms. Archana Bhaskar and Dr. Adil Agarwal (Whole-Time Director & CEO).
• Corporate Social Responsibility Committee: Mr. Nachiket Madhusudan Mor (Chairperson), with Mr. Ankur Nand Thadani and Dr. Adil Agarwal.
• Risk Management Committee: Mr. Nachiket Madhusudan Mor (Chairperson), with Mr. Ankur Nand Thadani and Dr. Adil Agarwal.

How to read it

A tenure-completion exit is routine governance housekeeping. The key committees continue to be chaired by independent directors, and the company has disclosed the revised composition on the same day the cessation takes effect. There is no financial impact figure attached to this event.

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