ITIndong Tea Company543769Routine director change

Non-Executive Director Madanlal Garg resigns; board accepts resignation with effect from 23 October 2026

Indong Tea Company Ltd informed exchanges that its Board accepted the resignation of Shri Madanlal Garg (DIN: 00670278) as Non-Executive Non-Independent Director.

By ScoutQuest · Fri 23 Oct 2026, 2:19 PM IST · 2 min read

Resigning Director & DIN

Shri Madanlal Garg (DIN: 00670278), Non-Executive Non-Independent Director

Effective Date of Cessation

Resignation letter dated 23 October 2026; accepted with effect from 23 October 2026

Stated Reason

persistent health-related concerns; no other material reasons stated

What the update says

• The Board of Directors of Indong Tea Company Ltd, at its meeting held on Friday, 23 October 2026 (commenced at 01:30 P.M, concluded at 02:00 P.M), considered and approved the acceptance of the resignation of Shri Madanlal Garg (DIN: 00670278) as Non-Executive Non-Independent Director.
• The resignation letter is dated 23 October 2026 and the resignation was accepted with effect from 23 October 2026.

Who has stepped down

• Shri Madanlal Garg was a Non-Executive Non-Independent Director. In his resignation letter he describes himself as resigning from the office of Non-Executive Director of the Company.
• Directorship held since 2015, as mentioned in his letter.

Family links on the board

• He is the younger brother of Shri Hariram Garg, who is Chairman & Executive Director.
• He is the uncle of Shri Rajesh Garg, Managing Director, and of Smt Rama Garg, Non-executive Woman Director.

Why he resigned, in the company's words

• The resignation letter cites persistent health-related concerns that require his complete attention and make it difficult for him to devote the time and energy needed for the role.
• He states the decision was taken after careful consideration and is solely on account of his health condition, and confirms there are no other material reasons for the resignation.
• The company's disclosure states that he confirmed there are no material reasons for his resignation other than those stated in his resignation letter.

How to read this

• This is a board composition change: one Non-Executive Non-Independent director has ceased to be a director with effect from 23 October 2026.
• The stated reason is personal health, and the company records his confirmation that nothing else material drove the decision.
• The board loses a member of the promoter family from its non-executive, non-independent seat; the roles of Chairman & Executive Director, Managing Director and Non-executive Woman Director continue to be held by the persons named in the disclosure.
• The intimation was shared as an outcome of a board meeting under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the required details given in Annexure-1, including the name and DIN, the reason for change, the effective date of cessation and the disclosure of relationships between directors.

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