Independent Director Sonali V. Chitalkar ceases office on completion of second term

Rathi Bars has informed BSE that Ms. Sonali V. Chitalkar (DIN: 07602962) ceases to be a Non-Executive Independent Director with effect from 28 September 2026.

Mon 28 Sep 2026

Director Name

Ms. Sonali V. Chitalkar

DIN

07602962

Position

Non-Executive Independent Director

Cessation Effective Date

28 September 2026

Reason

Completion of second term as Independent Director

What was shared

Rathi Bars Limited made a disclosure to BSE (Scrip Code 532918, Symbol RATHIBAR) under Regulation 30 of SEBI LODR, reporting a change in management.

Ms. Sonali V. Chitalkar (DIN: 07602962) ceases to hold office as a Non-Executive Independent Director with effect from 28 September 2026.

Reason stated

• The reason for the change is cessation upon completion of her tenure.
• She had served a second term as Independent Director, which expires on that date.
• The company notes this is in accordance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder.

Why tenure matters

Under Indian company law, an Independent Director may serve up to two consecutive terms, after which the person must step down. So an exit of this kind is expected and time-bound, and is different from a resignation driven by disagreement or a removal.

How investors may read it

The perception is generally neutral: no adverse reason, dispute or concern has been cited, and the change relates to the board's composition rather than to operations or finances. Investors typically watch for the company's subsequent communication on how the board's independent representation and committee composition are maintained after such a cessation.

The letter is signed by Anurag Rathi, Managing Director (DIN: 00063345), with an annexure giving the prescribed details of the change.

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