SRU Steels Limited announced important changes in its leadership and committee structure in a meeting held on December 3, 2024. The Board of Directors accepted the resignation of Mr. Mayank Bhandari from the post of Executive and Managing Director, effective from December 3, 2024. The resignation was due to his preoccupation with other assignments.

Leadership Transition

Mr. Bhandari expressed his intention to resign and the board accepted it with appreciation for his contributions during his tenure at the company. SRU Steels has confirmed that there are no material reasons for his departure other than those mentioned in his resignation letter, ensuring transparency in the transition process.

In his resignation letter, Mr. Mayank Bhandari confirmed that his decision was not influenced by any issues within the company. He currently holds directorships in other entities, such as Srestha Greentech Private Limited and Sunstar Realty Development Limited, but there are no new appointments resulting from this resignation.

Committee Reconstitution

Along with the resignation of the Managing Director, SRU Steels also reconstituted its Stakeholders Relationship Committee. The updated composition of the committee is as follows:

• Vishal Mehra – Chairperson (Non-Executive - Independent Director)
• Meet Harshadbhai Govani – Member (Additional Non-Executive - Non-Independent Director)
• Rajeev Mehra – Member (Non-Executive - Independent Director)

This restructuring aims to enhance the governance framework at SRU Steels, ensuring strong management and oversight over the company’s relationship with its stakeholders.

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