Two Independent Directors and the Company Secretary resign, effective 01st October 2026

Three senior exits, all effective from close of business hours of Thursday, 01st October 2026.

Thu 1 Oct 2026

Effective date

close of business hours of Thursday, 01st October 2026

Number of senior exits

Three senior exits

Independent Directors resigning

Ankitkumar Surendrakumar Agrawal (DIN-10118085), Nidhi Bansal (DIN-09693120)

Company Secretary resigning

Mrugesh Ashwin Kumar Vyas – Whole-Time Company Secretary & Compliance Officer

Stated reasons

other professional commitments; pre-occupation; alternate career opportunities

What was announced

• Mr. Ankitkumar Surendrakumar Agrawal (DIN-10118085) has resigned from the office of Director (Non-Executive and Independent Director) of the company.
• Ms. Nidhi Bansal (DIN-09693120) has resigned from the office of Director (Non-Executive and Independent Director) of the company.
• Mr. Mrugesh Ashwin Kumar Vyas has tendered his resignation from the post of Whole-Time Company Secretary and Compliance Officer of the company.

Effective date and stated reasons

• All three resignations take effect from the close of business hours of Thursday, 01st October 2026.
• Mr. Agrawal's stated reason is his other professional commitments.
• Ms. Bansal's stated reason is pre-occupation.
• Mr. Vyas's stated reason is to pursue alternate career opportunities.
• Each of the three has confirmed that there are no other material reasons for the resignation beyond those stated.

What the company has said it will do

• The Board of Directors has taken the resignations of the two independent directors on record and will complete the necessary formalities in due course of time.
• The company has accepted the resignation of Mr. Vyas, and a note of the same will be placed before the Board of Directors in the ensuing Board Meeting.
• Mr. Vyas will also cease to be Key Managerial Personnel under the provisions of Section 203 and other applicable provisions, if any, of the Companies Act, 2013, with effect from the close of business hours of 01st October 2026.

Other listed companies where the resigning directors serve

• Mr. Agrawal's resignation letter lists directorships in Easy Pay Limited, Kumar Cotton Mills Limited, Shri Akshar Gold Ornaments Limited, Orbit Pharma Laboratories Limited, Castora Agri Commodities Limited and Vandan Foods Limited, together with his committee memberships and chairmanships in some of them.
• Ms. Bansal's resignation letter lists directorships in Vivanta Industries Limited and Yarn Syndicate Ltd, along with committee roles in both.

How a retail investor can read this

• Two independent directors and the company secretary stepping down on the same date is a cluster of senior-level changes, and the company has shared it under the change in management heading.
• The reasons given are personal in nature — other professional commitments, pre-occupation and a career move — and each person has confirmed there are no other material reasons.
• The details of their directorships and committee positions in other listed companies help an investor see how many other board responsibilities these directors already carry.
• Independent directors and the compliance officer sit within the company's governance structure, so the positions they vacate are ones the company would look to fill.

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