Board Appoints New Independent Director; Independent Director and Company Secretary Resign
Mr. Parmar Rajeshbhai appointed Non-Executive Independent Director (Additional) w.e.f. September 26, 2026, for a term of five consecutive years, subject to shareholder approval.
By ScoutQuest · · 1 min read
- New Director Appointment
- Mr. Parmar Rajeshbhai appointed Non-Executive Independent Director (Additional) w.e.f. September 26, 2026, for a term of five consecutive…
- Director Resignation
- Mr. Malabhai Punjabhai Rabari resigned as Non-Executive Independent Director w.e.f. September 26, 2026
- Company Secretary Resignation
- Mr. Ish Sadana resigned as Company Secretary & Compliance Officer w.e.f. September 25, 2026
- Reason for Resignations
- Pre-occupation with other professional commitments
What was announced
The Board of Directors met on Saturday, September 26, 2026 (3:00 P.M. to 3:30 P.M.) and approved three management changes.
- Appointment: Mr. Parmar Rajeshbhai as Non-Executive Independent Director (Additional), effective September 26, 2026, for a term of five consecutive years, subject to shareholder approval. The appointment was based on the recommendation of the Nomination and Remuneration Committee.
- Resignation: Mr. Malabhai Punjabhai Rabari, Non-Executive Independent Director, effective September 26, 2026.
- Resignation: Mr. Ish Sadana, Company Secretary & Compliance Officer, effective September 25, 2026.
Reasons stated
Both resignations cite pre-occupation with other professional commitments. Mr. Rabari confirmed in his letter that there is no other material reason for his resignation. Mr. Sadana's letter states the same.
About the incoming director
Mr. Parmar Rajeshbhai holds an M.Com from Gujarat University (2024) and a B.Com from Gujarat University (2022). He is currently associated with the Accounts Department of Maitri Corporation, working on financial and accounting functions. The company states he is not debarred from holding office of director by any SEBI or other order, and has no relationship with other directors.
What it means for investors
These are governance and personnel changes rather than changes to business operations or financials. One independent director exits and another joins on the same date, so the board's independent representation is refreshed immediately. The Company Secretary & Compliance Officer post becomes vacant from September 25, 2026; that role handles listing compliance and investor communication, so investors may watch for a successor appointment. The new director's appointment still requires shareholder approval.
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More numbers
- Term of appointment of new independent directorfive consecutive years
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