Board notes independent director's resignation, appoints new additional independent director for 5 years
Board meeting outcome – 16 October 2026.
By ScoutQuest · · 2 min read
- Director Resignation
- Mr. Jagdish Prasad Ridhkaran Pareek (DIN: 00048635) as Non-Executive Independent Director, w.e.f. 16th October 2026
- Director Appointment
- Mr. Sanjay Ramdhari Yadav (DIN: 10776168) appointed as Additional Non-Executive Independent Director for 5 (Five) Consecutive Years, from…
- Committee Reconstitution
- Committees reconstituted w.e.f. October 16, 2026 — Mr. Yadav is Chairman of the Audit Committee and the Nomination and Remuneration…
What the Board approved
The Board of Directors met on Friday, 16th October 2026 and took up three items: it noted the resignation of a Non-Executive Independent Director, appointed a new Additional Non-Executive Independent Director, and approved the reconstitution of its committees. The meeting commenced at 12:30 noon and concluded at 01:30 p.m.
Resignation of an independent director
- Mr. Jagdish Prasad Ridhkaran Pareek (DIN: 00048635) resigned as Non-Executive Independent Director with effect from 16th October 2026, closing of business hours.
- In his letter to the Board, he cited his pre-occupation and personal commitments, and confirmed there is no material reason for his resignation other than these personal reasons.
- He also stated that, consequent to his resignation, he ceases to be the Chairperson/Member, as applicable, of the committees of the Board.
New independent director appointed
- Mr. Sanjay Ramdhari Yadav (DIN: 10776168) has been appointed as Additional Non-Executive Independent Director for a period of 5 (Five) Consecutive Years.
- Date of appointment: October 16, 2026.
- Brief profile given in the update: he is a graduate in Computer Science with vast experience in Information Technology.
How the committees now look
The revised composition of the committees, with effect from October 16, 2026, is as follows.
Audit Committee
- Mr. Sanjay Ramdhari Yadav — Chairman, Non-Executive Independent Director
- Mr. Rajesh Nuwal — Member, Managing Director
- Ms. Jeny Gowadia — Member, Non-Executive Independent Director
Nomination and Remuneration Committee
- Mr. Sanjay Ramdhari Yadav — Chairman, Non-Executive Independent Director
- Mr. Dinesh Nuwal — Member, Director
- Ms. Jeny Gowadia — Member, Non-Executive Independent Director
Stakeholders Relationship Committee
- Mr. Dinesh Nuwal — Chairman, Director
- Mr. Rajesh Nuwal — Member, Managing Director
- Mr. Sanjay Ramdhari Yadav — Member, Independent Director
What this means for investors
Board and committee changes are governance-level events. One independent director has stepped down and a new independent director has been appointed on the same date, with the committees reconstituted from the same effective date. A resignation can draw attention, but the update records the outgoing director's own confirmation that there is no material reason for it other than his personal reasons and pre-occupation. The new appointee is Chairman of both the Audit Committee and the Nomination and Remuneration Committee, and a member of the Stakeholders Relationship Committee.
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More numbers
- Term of appointment of Mr. Sanjay Ramdhari Yadav as Additional Non-Executive Independent Director5 (Five) Consecutive Years
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