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Tirupati Tyres Limited Announces Resignations of Key Directors
Team Finance Saathi
27/Dec/2024
What's covered under the Article:
- Tirupati Tyres Limited accepts the resignations of three board members, effective December 2024.
- Mrs. Mala Singh and Mr. Satish P. Molashi resigned on December 10, 2024.
- Mr. Arun Tyagi resigned on December 27, 2024, due to personal reasons.
Tirupati Tyres Limited, a renowned company in the tire manufacturing sector, has officially informed the BSE Limited and The Metropolitan Stock Exchange of India Ltd. about the resignations of key Board of Directors members, effective December 2024. The resignations include Mrs. Mala Singh, Mr. Satish P. Molashi, and Mr. Arun Tyagi, who stepped down due to personal reasons and pre-occupations.
On December 10, 2024, Mrs. Mala Singh and Mr. Satish P. Molashi, both Non-Executive and Independent Directors of the company, tendered their resignations. The company confirmed that there were no material reasons behind the resignations other than personal and professional commitments. Furthermore, it was noted that neither of these directors holds positions in other listed entities, thus simplifying the transition process.
Mr. Arun Tyagi, who served as a Non-Executive and Non-Independent Director, resigned from his position on December 27, 2024. Like his colleagues, his resignation was attributed to personal reasons and pre-occupations. Notably, Mr. Tyagi is also associated with Cressanda Railway Solutions Limited, indicating his ongoing professional commitments elsewhere.
The Board of Directors of Tirupati Tyres Limited held a meeting on December 27, 2024, where they took note of these resignations. The meeting was concluded in a short span of 30 minutes, reflecting the board’s prompt attention to the matter.
As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has shared the resignation details through a disclosure document. The resignation letters from the directors also confirmed that there were no disagreements or material reasons behind their departures, which is in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
The resignation of key directors marks a significant change in the leadership of Tirupati Tyres Limited. The company will now focus on ensuring a smooth transition and addressing any gaps in its corporate governance. For further updates on share market news, business and corporate developments, interested parties can visit Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi.
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