Whole-Time Director John Kuttukaran Paul tenders resignation; control stays with continuing promoters

Mr. John Kuttukaran Paul (DIN: 00016513), Whole-Time Director, has tendered his resignation effective 08th October, 2026, pursuant to the Family Settlement among the promoter family.

Thu 8 Oct 2026

Resignation effective date

08th October, 2026

DIN

00016513

Continuing promoters with management control

Mr. Francis K. Paul and Mr. Naveen Philip

Whole-Time Director steps down

• Mr. John Kuttukaran Paul (DIN: 00016513), Whole-Time Director, has tendered his resignation from the directorship of Popular Vehicles and Services Ltd vide his resignation letter dated 08th October, 2026, effective immediately.
• His resignation is pursuant to the Family Settlement among the promoter family, which was duly intimated to the Stock Exchanges on 5th October, 2026.
• The letter of resignation, along with the detailed reasons given by the retiring director, is enclosed with the intimation.

What the resignation letter says

• Over time, the members of the family had developed distinct visions and strategic aspirations concerning the growth and governance of their family businesses.
• To preserve family unity, mutual respect and long-term goodwill, and to ensure each member has the freedom to pursue their respective goals, the family amicably agreed upon a settlement arrangement.
• A Memorandum Recording Family Arrangement was executed on October 01, 2026.
• Under the terms of that agreement, the management and operational control of the Company and its subsidiaries shall continue to vest in the continuing promoters, Mr. Francis K. Paul and Mr. Naveen Philip.
• Mr. John K. Paul states that his resignation is solely pursuant to this inter-se family settlement and that there are no other reasons for his departure from the Board.

What changes and what continues

• The resignation is effective immediately, so the Whole-Time Director position held by Mr. John Kuttukaran Paul ceases with effect from 08th October, 2026.
• Management and operational control of the Company and its subsidiaries is stated to continue with the continuing promoters, Mr. Francis K. Paul and Mr. Naveen Philip.
• As the outgoing promoter under the arrangement, Mr. John K. Paul steps down and relinquishes his board positions in the listed entity and its subsidiaries to focus on specific partnerships, educational trusts and other specified companies forming part of the family business.
• In the disclosure table, the reason for change is recorded as Resignation, with the date of resignation and the effective date both stated as 08th October, 2026.

How a retail investor might read this

• This is a change in management at the board level, coming from a promoter-family settlement rather than a stated operational or business reason.
• The update places the change alongside a clear statement that management and operational control shall continue to vest in the continuing promoters, which points to continuity in who runs the Company even as the board composition changes.
• The letter records that the departure is solely due to the family settlement arrangement, and that there are no other reasons for it.

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