Parsvnath Developers Limited Announces Resignation of Three Independent Directors
Parsvnath Developers Limited has announced the resignation of three Independent Directors from its Board of Directors, effective July 14, 2026. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) as per an order dated April 30, 2026, issued by the National Company Law Tribunal, New Delhi Bench.The resignation of the directors follows the appointment of Mr. Manoj Kumar Anand as the Interim Resolution Professional (IRP) to manage the affairs of the Corporate Debtor as a going concern. The IRP remains in office as the Resolution Professional following a meeting held on June 10, 2026.
Details of Resignations
The three Independent Directors stepped down from their positions due to personal commitments, health reasons, and personal circumstances. All three directors confirmed that there are no other material reasons for their resignations beyond those stated in their respective resignation letters.The following table summarizes the details of the resignations:
| 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 circumstances following a family bereavement | July 14, 2026 |
Impact on Board Committees
With the resignation of these directors, their positions on various board committees have been vacated. The impact is detailed in the tables below:Committee Vacancies: Mr. Ramesh Chand Gupta
Mr. Ramesh Chand Gupta ceased to be a member of the following committees:
| Committee Name | Position Held |
|---|---|
| Audit Committee | Member |
| Nomination and Remuneration Committee | Member |
| Risk Management Committee | Member |
Committee Vacancies: Mr. Subhash Chander Setia
Mr. Subhash Chander Setia ceased to be the Chairperson or member of the following committees:
| Committee Name | Position Held |
|---|---|
| Audit Committee | Chairperson |
| Nomination and Remuneration Committee | Member |
| Stakeholders Relationship Committee | Chairperson |
| Risk Management Committee | Chairperson |
| Corporate Social Responsibility Committee | Chairperson |
Committee Vacancies: Dr. Rakshita Sharma
Dr. Rakshita Sharma ceased to be the Chairperson of the following committee:
| Committee Name | Position Held |
|---|---|
| Nomination and Remuneration Committee | Chairperson |
BAYERCROP Stock Price Movement
Bayer Cropscience Limited shares edged higher today to settle at ₹4,234.10, gaining 0.31% in post-market activity. The stock saw a total trading volume of 32,404 shares as it climbed from the day's low of ₹4,211.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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