Deccan Bearings Limited, a well-established company in the industrial bearings sector, has announced a significant change in its leadership following the resignation of key executives. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors passed a circular resolution on 1st February 2025, which approved the resignation of two prominent members of the company’s leadership team.

Resignation of Managing Director and Director

The resignations of Mr. Ritesh Mohan Parab, the Managing Director, and Mr. Vinay Tendulkar Harishchandra, a Director, were both effective from 1st December 2024. These changes mark a shift in the leadership structure of the company, which may lead to strategic reorganization in the coming months. The Board of Directors has accepted these resignations and confirmed the same via a circular resolution.

This decision is in line with the company’s commitment to uphold good corporate governance and comply with SEBI regulations.

Details of the Resignations

• Mr. Ritesh Mohan Parab, who held the position of Managing Director at Deccan Bearings Limited, has resigned as of 1st December 2024.
• Mr. Vinay Tendulkar Harishchandra, also a Director, has also stepped down from his position on the same date.

These resignations are significant, given their roles in the company’s leadership, and will likely result in a reassessment of key responsibilities within the organization.

Company’s Commitment to SEBI Regulations

Deccan Bearings remains committed to adhering to all regulatory requirements laid out by SEBI and will continue to ensure transparency in its operations. The circular resolution passed by the Board was a step towards ensuring compliance with SEBI’s corporate governance standards.

Looking Ahead

With these changes in leadership, Deccan Bearings Limited may experience some organizational shifts. Investors and stakeholders are advised to stay updated with future corporate announcements to understand the strategic direction the company will take in the coming months.

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