Independent Director Anil Khandelwal Resigns from Rashi Peripherals Ltd Amid Governance Concerns
Anil Khandelwal has resigned from the board of Rashi Peripherals Ltd, effective immediately. Mr. Khandelwal, who has held positions as an Independent Director, and as Chairman of the Stakeholders' Relationship Committee, tendered his resignation citing a fundamental divergence between his understanding of sound corporate governance and the operational practices of the company.Mr. Khandelwal joined the Board in 2024 and held the post, along with memberships in the Nomination and Remuneration Committee (NRC) and the CSR Committee.
In his detailed resignation letter, Mr. Khandelwal outlined two primary areas of governance concern that led to his decision.
One issue related to the process integrity of the NRC, noting concerns over director selection and Key Managerial Personnel (KMP) compensation being treated as management prerogatives rather than subjects for independent NRC deliberation.
A second, more specific concern involved commercial assignments related to a proposed acquisition. The due diligence assignments, which involved firms where two Independent Directors, including the Audit Committee Chairman, held senior partner positions, were not disclosed at the relevant Board meeting. Furthermore, the concerned directors did not recuse themselves from the approval process, despite the argument being presented that this was not legally required.
Mr. Khandelwal stated that he believes that good governance requires that such engagements be supported by a transparent and structured process, including the appropriate disclosure of the relationship to the Board and safeguards against actual, potential, or perceived conflicts of interest.
The details of the resignation and related parties are presented below:
| Aspect | Details |
|---|---|
| Director | Mr. Anil Khandelwal (DIN: 00005619) |
| Date of Resignation | August 24, 2026 |
| Position Resigned | Independent Director |
| Key Committee Roles | NRC Member, CSR Committee Member, Chairman of Stakeholders' Relationship Committee |
| Other Directorships | NIL |
Mr. Khandelwal expressed gratitude to the company and his fellow Board members for the association during his tenure. He concluded that the prevailing governance culture did not provide an environment conducive to meeting the governance standards he believed appropriate for a listed company.
RPTECH Stock Price Movement
As of 12:07 PM, shares of Rashi Peripherals Limited are slipping by 2.43% in live trading, currently at ₹845.90 after shedding ₹21.10 from the previous close. The stock has seen significant movement today, with a volume of 90,215 shares recorded during the current market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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