Two Independent Directors resign with effect from 12th October 2026
The company informed the exchanges that two Independent Directors have resigned from its board, both effective 12th October 2026.
By ScoutQuest · · 2 min read
- Resignation Effective Date
- 12th October 2026
- Reason for Resignation
- personal reason
- Board Meeting Timing
- Monday, 12th October 2026, from 06:00 p.m. to 06:40 p.m.
Two independent directors step down
- Mr. Ravindra Dilip Davrung (DIN 11232334), Independent Director, resigned with effect from 12th October 2026.
- Ms. Rekhaben Sanjay Bhanushali (DIN 1123261), Independent Director, resigned with effect from 12th October 2026.
- The resignations are reported as a change in management through a disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Why they resigned
Both directors, in their resignation letters dated 12th October 2026, gave the reason as "personal reason" for stepping down from the position of Independent Director. Each requested the Board to take note of the resignation and relieve them of their duties.
When the Board considered it
The Board of Directors met on Monday, 12th October 2026, from 06:00 p.m. to 06:40 p.m., and transacted the resignations of both Independent Directors as the business before it.
What the company states about both directors
- Neither is related to the Directors or Key Managerial Personnel of the company.
- Neither is debarred from holding the office of Director by virtue of any SEBI order or any other authority.
- Both are graduates and, apart from their position here, both hold a directorship in Grand Oak Canyons Distillery Limited.
What this means for an investor
- Two of the company's independent directors are leaving on the same date, so both seats fall vacant together.
- The stated reason in both cases is personal, not any disagreement or other cause, based on what the resignation letters and the Board disclosure set out.
- The intimation of the change is the information available to shareholders; the letters and the disclosure are the documents behind it.
How to read it
Board-level changes such as independent director resignations draw attention to how a board is composed and who replaces those directors. Here the disclosure records that both exits are effective from the same day, both are attributed to personal reasons, and both directors have confirmed the relationship and debarment positions described above. Tracking subsequent disclosures would show how the vacancies are filled.
Also from Shri Niwas Leasing And Finance
Final Reminder cum Forfeiture Notice issued for unpaid first and final call money on partly paid-up shares
21 Oct 2026
Final reminder-cum-forfeiture notice for ₹5 call money on ~3.85 crore partly paid-up shares
21 Oct 2026
Related party transaction disclosure for quarter and half year ended September 30, 2026 reports NIL
19 Oct 2026
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.