Parsvnath Developers Limited Announces Resignations of Three Independent Directors
Parsvnath Developers Limited has announced the resignation of three independent directors, effective July 14, 2026. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) following an order from the National Company Law Tribunal, New Delhi Bench, dated April 30, 2026.The company manages its ongoing affairs as a going concern under the leadership of Manoj Kumar Anand, who serves as the Interim Resolution Professional and Resolution Professional. The corporate actions are being managed in accordance with the Insolvency and Bankruptcy Code, 2016.
Details of Resignations
The following independent directors have resigned from their positions effective from the close of business hours on July 14, 2026:| Director Name | DIN | Reason for Resignation |
|---|---|---|
| Mr. Ramesh Chand Gupta | 01257134 | Personal pre-occupations and other commitments |
| Mr. Subhash Chander Setia | 01883343 | Ill health and other commitments |
| Dr. Rakshita Sharma | 08579771 | Personal reasons following the demise of her father |
Each resigning director has confirmed that there are no material reasons for their resignations other than those explicitly stated in their respective resignation letters.
Impact on Board Committees
The resignations have led to the departure of these individuals from various board committees. The specific committee positions held by each retiring director are detailed below: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
PARSVNATH Stock Price Movement
Parsvnath Developers Limited shares tumbled 1.83% today to settle at ₹2.14 during post-market trading. The stock hit a 52-week low while trading a volume of 72,202 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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