Mukesh Gajra's Resignation: On December 3, 2024, Tribhovandas Bhimji Zaveri Ltd. (TBZ) announced that Mukesh Gajra, the President - Retail & Operations, has tendered his resignation. Gajra’s resignation will be effective from the close of business hours on February 11, 2025, as per the company's disclosure to the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The announcement was made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates public companies to disclose material events, such as key personnel resignations.

Reason for Resignation: In his resignation letter, Gajra highlighted that he is stepping down to pursue life back in his home base for some time, marking a personal decision to take a break from his role at TBZ. His resignation marks the end of a significant chapter, as he had been with the company during a period of growth and achievement. He thanked Shrikant Zaveri, Binaisha Zaveri, and Raashi Zaveri, appreciating their leadership and support throughout his tenure at TBZ. He expressed his gratitude for the opportunities provided by the company and acknowledged the milestones achieved during his time as President.

Commitment to a Smooth Transition: Gajra emphasized his commitment to a smooth transition by assuring that he would complete his notice period and assist in any necessary handover or consultation to ensure that operations continue seamlessly after his departure. His departure will not impact the operations of the company immediately, as he will continue to perform his duties until his official exit date.

Corporate Disclosure: In line with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155, TBZ has included all necessary details regarding the resignation in their filing, including the reason for the change, the effective date, and the resignation letter. The company has ensured compliance with the Regulation 30 provisions by submitting all required documents and information as an annexure.

Impact on Tribhovandas Bhimji Zaveri Ltd.: Tribhovandas Bhimji Zaveri Ltd., also known as TBZ - The Original, is one of the leading jewelry retailers in India. The resignation of a senior management member like Mukesh Gajra could have an impact on the company's retail and operations strategies, especially considering the current market dynamics. However, Gajra's offer to ensure a smooth transition should help minimize any disruptions during this leadership change.

Conclusion: Mukesh Gajra’s resignation marks a significant change for TBZ as he steps down from his role as President - Retail & Operations. However, the company’s commitment to a smooth transition suggests that the impact on operations will be minimal. As he departs after a two-year tenure, Gajra’s resignation serves as a pivotal moment for the company, which continues to grow and evolve in the competitive jewelry retail sector.

For more information, please refer to the official website of Tribhovandas Bhimji Zaveri.

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