Non-Executive Independent Director Resigns from Mangalam Industrial Finance Ltd
Mangalam Industrial Finance Ltd has confirmed the resignation of Mr. Miteshkumar Ghanshyambhai Rana as a Non-Executive Independent Director, effective June 30, 2026. The departure comes after his personal commitments and increased professional engagements made it difficult for him to devote adequate time to the company's responsibilities.The Board acknowledged the contributions and guidance provided by Mr. Ghanshyambhai Rana during his tenure as an Independent Director of Mangalam Industrial Finance Ltd. He confirmed that there were no other material reasons behind his decision to step down.
Mr. Ghanshyambhai Rana held several key positions at Mangalam Industrial Finance, including serving as a member of the Audit Committee and the Stakeholders Relationship Committee. Furthermore, he served as the Chairman of the Nomination and Remuneration Committee and was involved with the Rights Issue Committee and Risk Management Committee.
His directorships, prior to his resignation, included several other listed entities:
| Company Name | Category of Directorship | Board Committee Memberships (at MIFL) |
|---|---|---|
| Mangalam Industrial Finance Limited | Non-Executive Director (Independent) | Audit Committee (Member), Nomination & Remuneration Committee (Chairman), Stakeholders Relationship Committee (Member), Rights Issue Committee (Member), Risk Management Committee (Member) |
| I Secure Credit & Capital Services Limited | Non-Executive Director (Independent) | Audit Committee (Member), Nomination & Remuneration Committee (Chairman), Stakeholders Relationship Committee (Member) |
| Wardwizard Healthcare Limited | Non-Executive Director (Independent) | Audit Committee (Member), Nomination & Remuneration Committee (Chairman) |
| Shayonara Engineering limited | Non-Executive Director (Independent) | Audit Committee (Member), Nomination & Remuneration Committee (Chairman) |
Mr. Rana's resignation is attributed to his personal commitments and increased professional engagements, preventing him from dedicating sufficient time to the company. The effective date of his cessation was noted as June 30, 2026, after the closing of business hours.
Stock Price Movement
Mangalam Industrial Finance Ltd settled at ₹0.62 on Tuesday, showing no change for the day. The shares traded within an intraday range of ₹0.61 to ₹0.63.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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