Parsvnath Developers Limited Announces Resignation of Three Independent Directors
Parsvnath Developers Limited has announced the resignation of three Independent Directors, effective July 14, 2026. The resignations were submitted due to personal commitments, health concerns, and personal circumstances.The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) as per an order dated April 30, 2026, from the Hon'ble National Company Law Tribunal, New Delhi Bench. Mr. Manoj Kumar Anand serves as the Interim Resolution Professional managing the affairs of the Corporate Debtor as a going concern.
Details of Resignations
The following directors have stepped down from their positions:| Director Name | DIN | Reason for Resignation | Effective Date |
|---|---|---|---|
| Mr. Ramesh Chand Gupta | 01257134 | Personal pre-occupations and other commitments | July 14, 2026 |
| Mr. Subhash Chander Setia | 01883343 | Ill health and other commitments | July 14, 2026 |
| Dr. Rakshita Sharma | 08579771 | Personal reasons following her father's demise | July 14, 2026 |
Impact on Board Committees
With these resignations, the departing directors have vacated their positions on several key board committees:Mr. Ramesh Chand Gupta
- Audit Committee (Member)
- Nomination and Remuneration Committee (Member)
- Risk Management Committee (Member)
Mr. Subhash Chander Setia
- Audit Committee (Chairperson)
- Nomination and Remuneration Committee (Member)
- Stakeholders Relationship Committee (Chairperson)
- Risk Management Committee (Chairperson)
- Corporate Social Responsibility Committee (Chairperson)
Dr. Rakshita Sharma
* Nomination and Remuneration Committee (Chairperson)
The company noted that the resignation of Mr. Ramesh Chand Gupta, Mr. Subhash Chander Setia, and Dr. Rakshita Sharma was processed following legal opinions obtained by the Resolution Professional to ensure all necessary procedures were followed during the CIRP.
PARSVNATH Stock Price Movement
Parsvnath Developers Limited shares are tumbling by 1.83% to ₹2.14 in live trading as of 3:07 PM today. The stock has plunged to its 52-week low amid a trading volume of 68,007 shares.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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