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India Steel Works Ltd Announces Resignation of Board Member

Oct 6, 2023

By: BlinkX Research Team

India Steel Works Ltd. has reported the resignation of Mr. Bimal R. Desai from his role as a Non-Executive Non-Independent Director on the company's board. The announcement was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.

In a formal communication dated 29th September 2023, Mr. Bimal R. Desai (DIN: 00872271) tendered his resignation, and the same was acknowledged by the company. His resignation officially came into effect on 29th September 2023 at closing hours.

Mr. Desai's departure from the position of Independent Director marks a change in the composition of India Steel Works Ltd.'s board. The company, in adherence to the regulatory framework, duly notified the stock exchanges of this development.

The India Steel Works Ltd. board expressed gratitude to Mr. Bimal R. Desai for his contributions during his tenure and wished him success in his future endeavors. The company assured stakeholders that it would take necessary steps to fill the vacated position, ensuring continuity and effectiveness in its governance structure.

This announcement follows the company's commitment to maintaining transparency and compliance with regulatory requirements while keeping stakeholders informed of significant developments.