Independent Director Resigns from Sparc Electrex after Completing 5-Year Tenure
Sparc Electrex Ltd announced that Mr. Niraj Hareshbhai Variava has tendered his resignation from the position of Non-Executive Independent Director, with effect from June 7, 2026. The resignation follows the completion of his five-year tenure as an Independent Director of the company.The Board of Directors at Sparc Electrex held a meeting on June 6, 2026, and approved the resignation. The Board expressed its appreciation for Mr. Variava’s contributions and guidance during his time with the company in the capacity of an Independent Director.
Mr. Variava confirmed that there were no material reasons for his resignation other than the completion of his statutory tenure as an Independent Director. He will also cease to be a member or chairperson of any of the Board Committees, effective from the same date.
Key details regarding Mr. Variava's departure and directorship are summarized below:
| Detail | Information |
|---|---|
| Name & DIN | Mr. Niraj Hareshbhai Variava (DIN: 09197068) |
| Position | Independent Director |
| Date of Resignation | June 7, 2026 |
| Reason for Change | Completion of the five-year tenure as an Independent Director |
| Other Directorships Held | Nil |
Stock Price Movement
Sparc Electrex Ltd settled at ₹5.20 on Friday, closing down 0.95%. The shares traded within an intraday range, hitting a high of ₹5.25 and reaching a low of ₹5.20.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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