Asahi india glass Limited has announced the resignation of Mr. Setsuya Yoshino as Non-Executive Independent Director, effective from close of business hours on March 31, 2026. The resignation was communicated to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Setsuya Yoshino (DIN: 10504479) submitted his resignation letter dated March 31, 2026, citing his permanent return to Japan as the primary reason for stepping down from the Board of Directors. The resignation became effective from the close of business hours on March 31, 2026.

Regulatory Compliance

In compliance with Regulation 30 read with Para A of Part A of Schedule III to the Listing Regulations, the company received confirmation from Mr. Setsuya Yoshino regarding his resignation. The confirmation stated that there are no material reasons for his resignation other than those mentioned in his resignation letter. Additionally, he confirmed that he does not hold directorships or memberships of board committees of any other listed entity.

Board's Acknowledgment

The Board of Directors placed on record its appreciation for the valuable contribution and guidance provided by Mr. Setsuya Yoshino during his tenure as Non-Executive Independent Director. In his resignation letter, Mr. Yoshino expressed sincere gratitude to the company and his colleagues on the Board for their continued support and cooperation during his directorship.

Regulatory Filing

The resignation disclosure was made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company provided complete details as required under the listing regulations, including the cessation date and reason for the directorship change.

The announcement was communicated to both the National Stock Exchange of India Limited and BSE Limited through the company's Executive Director, General Counsel & Company Secretary, Gopal Ganatra.

Asahi India Glass has successfully completed the divestment of its subsidiary's stake in Under Par Sports Technologies Private Limited. AIS Consumer Glass Solutions Limited finalized the sale of its complete 34% stake on March 30, 2026, following the board approval granted on March 24, 2026. The transaction, valued at ₹9.05 lakhs, has been executed in compliance with SEBI LODR Regulations.

Official Regulatory Filing and Compliance

The company submitted an official intimation to both NSE and BSE on March 30, 2026, confirming the completion of the divestment transaction. Executive Director, General Counsel & Company Secretary Gopal Ganatra signed the regulatory filing under reference number 102339/S/O/L-1/2025-26. The transaction has been structured in full compliance with Regulation 30 of SEBI LODR Regulations, 2015, and follows the SEBI Master Circular guidelines.

Transaction Completion Details

The divestment involved the sale of 1,70,000 equity shares with a face value of ₹10 each. The company confirmed through its regulatory filing that Under Par Sports Technologies Private Limited has ceased to be an associate company of AIS Consumer Glass Solutions Limited and is no longer an indirect associate of Asahi India Glass with effect from March 30, 2026.

Buyer Information and Arm's Length Transaction

The entire stake was acquired by Mr. Anitya Chand and Mr. Karanpreet Bindra, who do not belong to the promoter group or group companies of Asahi India Glass. This ensures the transaction qualifies as an arm's length deal with external parties. The company confirmed in its official filing that no changes were made to the information or disclosures provided in the original intimation dated March 24, 2026.

Financial Impact and Strategic Rationale

The financial contribution of Under Par Sports Technologies Private Limited to Asahi India Glass has been minimal, justifying the strategic divestment decision. This divestment represents part of Asahi India Glass's portfolio optimization strategy, focusing on divesting from non-core assets with minimal financial contribution.