Mehta Securities Limited has formally announced the untimely demise of Mr. Chirag D. Mehta, a key member of its Promoter Group and a Non-Executive Director on its Board. His sudden passing on 2nd January 2025 due to cardio-respiratory arrest has sent waves of grief throughout the organization.

Mr. Mehta was an integral part of Mehta Securities, having served as a Non-Executive Director since 1st July 2006. During his tenure, he was recognized for his discipline, sincerity, and unwavering dedication to the company’s goals and values. His contributions to the growth and governance of Mehta Securities remain unparalleled.

This announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of significant developments. The company has also provided updates under Regulation 31A, indicating that Mr. Mehta will no longer be classified as part of the Promoter Group posthumously.

Company Statement

A heartfelt statement issued by Mahesh Moteevaras, Company Secretary and Compliance Officer, expressed the collective grief of the organization:
"Mr. Chirag Mehta’s unexpected passing is an irreparable loss to Mehta Securities. His leadership and commitment will always be cherished. The directors and employees extend their deepest condolences to his family in this moment of sorrow."

The official notification to the BSE Limited included the following details:

• Cessation of Role: Mr. Mehta ceased to be a director effective 2nd January 2025 due to his unfortunate passing.
• Reason for Change: The cessation was due to sudden cardio-respiratory arrest.
• Regulatory Compliance: All relevant disclosures have been submitted per SEBI regulations.

Reflection on Mr. Mehta’s Legacy

Under his stewardship as a Non-Executive Director, Mehta Securities strengthened its corporate governance standards and maintained its position as a trusted name in the financial services sector. His strategic vision and ability to navigate challenges were instrumental in shaping the company’s success over nearly two decades.

Future Implications

The company has assured stakeholders that while this loss is significant, it remains committed to upholding the values and principles Mr. Mehta stood for. Regulatory filings have been updated to reflect this change, ensuring transparency in operations.

The passing of Mr. Chirag D. Mehta is not just a personal loss for those who knew him but also a professional void for Mehta Securities, which will strive to honor his memory through continued dedication to excellence.

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