Adeshwar Meditex accepts Satish Chudekar's resignation

1 min read Updated on 04 Aug 2026, 05:07 PM

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Anirudha BScanX News Team

AI Summary

Adeshwar Meditex Limited accepted the resignation of Satish Ramchandra Chudekar as Non-Executive Non-Independent Director effective August 3, 2026. Citing personal commitments, Chudekar stepped down from the Board and its Nomination & Remuneration Committee. The company confirmed no other material reasons for the exit.

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Adeshwar Meditex Limited has accepted the resignation of Satish Ramchandra Chudekar from the position of Non-Executive Non-Independent Director, effective August 3, 2026. The resignation was tendered via a letter dated August 3, 2026, citing personal commitments as the primary reason for his departure. The company disclosed that it received confirmation from Chudekar that there are no other material reasons for his resignation beyond those stated in the letter.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III to the said Regulations. The filing also references SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The resignation letter and confirmation regarding the absence of other material reasons were enclosed as Annexure I and Annexure II in the exchange filing.

Chudekar, whose Director Identification Number (DIN) is 11289931, served on the Nomination & Remuneration Committee of the Board. His exit does not appear to be linked to any regulatory scrutiny or internal disputes, as the company explicitly stated that no other relationships or material issues exist between the directors. The Board of Directors acknowledged the receipt of the resignation letter and processed the cessation of his role with immediate effect as per the date specified in his letter.

Director Profile and Committee Membership

The following table outlines the directorship details of Satish Ramchandra Chudekar at Adeshwar Meditex Limited prior to his resignation:

Name of the Director	Company	Category of Directorship	Board Committee Membership
Satish Ramchandra Chudekar	Adeshwar Meditex Limited	Non-Executive, Non-Independent Director	Nomination & Remuneration Committee - Member

The resignation was formally communicated to BSE Limited by Krishnojirao Nagaraja Rao, a Director of Adeshwar Meditex Limited (DIN: 07684308), on August 4, 2026. The filing confirms that Chudekar holds no other listed entity directorships that require disclosure under the current regulations, aside from his role at Adeshwar Meditex Limited.

Historical Stock Returns for Adeshwar Meditex

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	-3.72%	-4.12%	-9.44%	-24.50%	-34.93%

How will Adeshwar Meditex Limited plan to restructure the Nomination & Remuneration Committee following Chudekar's departure?

What is the company's timeline for appointing a successor to fill the vacancy on the Board of Directors?

Could this leadership change signal a broader strategic shift in governance or management direction for Adeshwar Meditex?

Corrections to Transaction Amounts

The following specific amounts were corrected in the filing:

Interest on a loan with Mr. Abhinandan Rao is revised to 10.78 Lakhs from 1.18 Lakhs.
Salary of Mr. Shailesh Rajpure is revised to 12.60 Lakhs from 12.00 Lakhs.
Salary of Mr. K Nagarajarao is revised to 87.00 Lakhs from 84.00 Lakhs.
Salary of Mr. Abhinandan N is revised to 39.00 Lakhs from 36.00 Lakhs.
Salary of Mrs. Ashalata B Raut is revised to 38.75 Lakhs from 36.00 Lakhs.

Revised Related Party Transactions

The company provided the complete revised schedule of related party transactions. The table below details the nature and amounts of these transactions as per the corrected filing.

Name of the related party	Relationship	Type of transaction	Amount of transaction (in Lakhs)
Mr. K Nagarajarao	Director - KMP	Salary	87.00
Mr. K Nagarajarao	Director - KMP	Loan Taken from Director	150.00
Mr. K Nagarajarao	Director - KMP	Interest Paid	13.50
Mr. Abhinandan N	Director - KMP	Salary	39.00
Mr. Abhinandan N	Director - KMP	Loan Taken from Director	160.00
Mr. Abhinandan N	Director - KMP	Interest Paid	10.78
Mrs. Ashalata B. Raut	Director - KMP	Salary	38.75
Mrs. Ashalata B. Raut	Director - KMP	Loan taken from Director	15.00
Mrs. Ashalata B. Raut	Director - KMP	Interest Paid	1.18
Mr. Shailesh Rajpure	Director - KMP	Salary	12.60
M/s Moksha Biosurgicals Pvt Ltd	Associates / Enterprises with significant influence	Purchase & Labour Charges	0.00
M/s Moksha Biosurgicals Pvt Ltd	Associates / Enterprises with significant influence	Rent paid	7.80
M/s Shivadesh Meditex	Director is Proprietor	Purchase & Labour Charges	0.16
M/s Shivadesh Meditex	Director is Proprietor	Sales	111.56
Mr. Prashant Rane	Chief Financial Officer	Salary	6.00
Mr. Vishal Jain	Compliance Officer	Salary	3.60
Mr. Arun Shankar Koli	Independent Director	Director Seating Fees	0.00
Mr. Benegal Parameshwara Udpa	Independent Director	Director Seating Fees	0.00
Mr. Prithvi Sanjay Singh	Additional Non-Executive Director	Director Seating Fees	0.00

The clarification was signed by Krishnojirao Nagaraja Rao, Director of adeshwar meditex , on May 22, 2026.

Historical Stock Returns for Adeshwar Meditex

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	-3.72%	-4.12%	-9.44%	-24.50%	-34.93%

Will SEBI or BSE initiate a scrutiny process into Adeshwar Meditex's internal financial controls following this typographical correction in related party disclosures?

How might the significant loans taken from directors (totaling ₹325 Lakhs) impact Adeshwar Meditex's debt structure and future fundraising capabilities?

Could the pattern of KMP salary revisions raise concerns among minority shareholders about corporate governance standards at Adeshwar Meditex during upcoming annual general meetings?