Tirupati Tyres Limited has informed the stock exchanges about the resignation of Mr. Chander Prakash Sharma from his role as Non-Executive & Non-Independent Director and Chairman of the company, effective December 3, 2024. The resignation, according to the company's filing under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been made due to unavoidable personal reasons. This information was duly recorded in the Board of Directors meeting, where his significant contributions were acknowledged and appreciated.

The company clarified that there are no other material reasons for his resignation, other than those stated. Additionally, Mr. Sharma, in his resignation letter, expressed his gratitude for the support and opportunities extended to him during his tenure. He requested the management to complete all necessary formalities associated with his resignation.

Mr. Chander Prakash Sharma is also serving as a director in another listed company, Cressanda Railway Solutions Limited. However, he confirmed that his resignation from Tirupati Tyres does not stem from any conflicts or material issues, ensuring a smooth transition.

The company also adhered to the SEBI circular CIR/CFD/CMD/4/2015, dated September 9, 2015, which mandates the disclosure of details regarding the resignation of directors, ensuring complete transparency.

Tirupati Tyres Limited's filing demonstrates their commitment to good corporate governance practices by promptly informing the stock exchanges about significant board changes. This move is in line with the regulatory obligations under SEBI (LODR) and serves to keep shareholders and investors well-informed of the management transitions.

As the company proceeds with these updates, stakeholders can continue to monitor the corporate governance changes through the company's official website and public filings.

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