Hemisphere Properties India Limited (HPIL), a leading real estate and property management company, has announced the cessation of Dr. Sunita Chandra's directorship from the Board. According to the official notification filed with the BSE Limited and the National Stock Exchange of India (NSE), Dr. Chandra’s tenure as an Independent Director concluded on November 28, 2024.

Dr. Chandra had been serving as an Independent Director of the company under the provisions of the Ministry of Housing and Urban Affairs (MoHUA), Government of India. As per the order dated November 29, 2024, the completion of her three-year term led to her cessation from the position of Independent Director of Hemisphere Properties India Limited.

This transition is in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs corporate governance and mandates timely disclosures regarding the change in the directorship of listed companies. The company's Board and management team express their gratitude towards Dr. Chandra for her contributions during her term and her role in strengthening the company's governance framework.

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Significance of Dr. Chandra’s Cessation

As an Independent Director, Dr. Chandra played a key role in ensuring the integrity of the company’s decision-making processes and maintaining corporate governance standards. The position of Independent Director is crucial in providing unbiased and independent judgment in the company’s operations, helping ensure that decisions made are in the best interest of shareholders and the company at large.

With her cessation, Hemisphere Properties India Ltd is expected to continue its strategic initiatives with a focus on maintaining high governance standards. This change in the Directorate does not affect the company’s ongoing projects or operations but is part of the natural course of governance in line with regulatory requirements. The company is likely to initiate the process of finding a suitable replacement for Dr. Chandra to continue ensuring robust independent oversight.

About Hemisphere Properties India Limited (HPIL)

Hemisphere Properties India Limited is a prominent player in the real estate and property management sector. The company offers a wide range of services including the development, management, and marketing of real estate properties. With a strong commitment to corporate governance, HPIL has consistently adhered to regulatory standards while focusing on sustainable growth and expanding its property portfolio.

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