Arshiya Ltd independent director Ved Prakash resigns

Arshiya Ltd announced that Mr. Ved Prakash has resigned from his position as Non-Executive Independent Director, effective February 18, 2026. The resignation was formally acknowledged by the Resolution Professional, Pankaj Mahajan, following a delay in processing due to the company's ongoing Corporate Insolvency Resolution Process (CIRP). The director cited his inability to contribute effectively while residing in Dubai as the primary reason for stepping down.

The company stated that Mr. Ved Prakash (DIN: 02988628) tendered his resignation via email on February 18, 2026. He explained that he has been staying in Dubai for over two years and has been unable to attend board meetings regularly or physically. Consequently, he felt he could not contribute meaningfully to the board and decided to step down from his position.

Arshiya Ltd is currently under the Corporate Insolvency Resolution Process initiated by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. The company noted that upon the commencement of CIRP, the powers of the Board of Directors were suspended and vested in the Resolution Professional. This statutory framework prevented the company from formally processing the resignation earlier.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no material reasons for the resignation other than those stated by the director. Mr. Pankaj Mahajan, the Resolution Professional, signed the submission on July 17, 2026.

Resignation Details

Detail	Information
Director Name	Mr. Ved Prakash
DIN	02988628
Designation	Non-Executive Independent Director
Date of Resignation	February 18, 2026
Reason	Unable to devote sufficient time and attention due to residence in Dubai
Other Directorships	NIL

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.98%	-6.60%	-7.48%	-20.16%	-63.20%	-96.10%

Arshiya Ltd has accepted the resignation of Mr. Ved Prakash as Non-Executive Independent Director, effective February 18, 2026. The resignation was formally acknowledged by the Resolution Professional, Pankaj Mahajan, who currently manages the company under the Corporate Insolvency Resolution Process (CIRP). Mr. Prakash stepped down due to his inability to devote sufficient time and attention to the company's affairs, as he resides in Dubai.

The company stated that the powers of the Board of Directors were suspended upon the commencement of CIRP by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. Consequently, the management of the company was vested in the Resolution Professional. The formal acceptance of the resignation was delayed due to the statutory and procedural requirements applicable during the CIRP period.

Mr. Ved Prakash (DIN: 02988628) ceased to hold the position of Non-Executive Independent Director with effect from February 18, 2026. The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Resignation

S.no.	Disclosure Requirements	Details
1.	Reason for Change	Mr. Ved Prakash resigned due to inability to devote sufficient time and attention to the company's affairs.
2.	Date of Cessation	February 18, 2026
3.	Brief Profile	Not Applicable
4.	Disclosure of relationship between directors	Not Applicable
5.	Information required pursuant to BSE/NSE Circulars	Not Applicable

The resignation was intimated to the National Stock Exchange of India Limited and BSE Limited on June 23, 2026. The company confirmed that there are no other material reasons for the resignation beyond those stated in the resignation letter.