Independent Director ceases on completion of second term
KMS Medisurgi has informed BSE that Mr. Hardik Rajnikant Bhatt (Independent Director) ceased to be a Director with effect from close of business hours on September 30, 2026.
- Director Name
- Mr. Hardik Rajnikant Bhatt
- Director Designation
- Independent Director
- Cessation Date
- September 30, 2026
- Reason for Cessation
- Completion of second term as Independent Director
What happened
KMS Medisurgi Limited informed BSE that Mr. Hardik Rajnikant Bhatt (DIN: 07566870) has ceased to be a Director of the Company with effect from the close of business hours on September 30, 2026.
Reason stated
- The cessation is upon completion of his second term of appointment as an Independent Director.
- Under company law, an independent director may serve up to two consecutive terms, after which the term ends by operation of the tenure limit.
- This is therefore a scheduled, term-based exit rather than a resignation.
Details disclosed
- Directorship in other listed companies: Nil
- Board committee update: Nil
- Disclosure of relationship between directors: Not Applicable
The Board of Directors and the Management placed on record their appreciation for the contributions, guidance and services rendered by him during his tenure.
How investors may read it
Term-completion exits are routine governance events and are usually viewed differently from abrupt resignations citing concerns. Investors typically watch for the company's subsequent board composition, since listed companies must maintain the prescribed number of independent directors on the Board and in committees.
The intimation was signed by Siddharth Kanakia, Managing Director, and the information is also stated to be available on the Company's website.
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