Independent Director Ceases on Completion of Second Consecutive Term
Mr. Nikhil Dhanotiya, Non-Executive Independent Director, ceased to be on the Board from the closing hours of 29th September, 2026.
- Director Name
- Mr. Nikhil Dhanotiya
- DIN
- 09220437
- Position
- Non-Executive Independent Director
- Cessation Date
- 29th September, 2026
- Reason for Cessation
- Completion of second consecutive term under Section 149(11) of the Companies Act, 2013
What was shared
The company intimated BSE, under Regulation 30 of the SEBI Listing Regulations, about a change in its Board of Directors.
Who is leaving
- Mr. Nikhil Dhanotiya (DIN: 09220437), Non-Executive Independent Director.
- Ceased to be a Director with effect from the closing hours of 29th September, 2026.
- Reason: completion of his second consecutive term as an Independent Director under Section 149(11) of the Companies Act, 2013.
How to read this
Under Indian company law, an Independent Director can serve a maximum of two consecutive terms, after which the person must step off the Board. So this exit is driven by the statutory limit on tenure, and is described in the update as a cessation on completion of tenure — not a resignation or removal.
The Board placed on record its sincere appreciation and gratitude for his long association and contributions during his tenure.
What it means for investors
Such tenure-based changes are common and administrative in nature. Investors may watch for any subsequent announcement on Board composition, since listed companies must maintain the prescribed number of independent directors and committee memberships.
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