Atal Realtech Limited clarified on July 29, 2026, that Independent Director Akshay Vinod Dhongade resigned from its Board of Directors due to pre-occupancy, confirming there were no other material reasons for his departure. The clarification addresses an inadvertent omission in the initial intimation filed on July 15, 2026, which lacked detailed reasons as required under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The resignation became effective at the close of business hours on July 15, 2026. In a separate letter dated July 29, 2026, Mr. Dhongade confirmed that his decision was driven solely by pre-occupancy constraints and explicitly stated that he had no disagreements with the Board or management regarding the company’s affairs. He further affirmed that no undisclosed material factors influenced his decision to step down.

Resignation Details

Managing Director Vijaygopal Parasram Atal signed the disclosure, noting that the Board appreciates Mr. Dhongade’s contributions during his tenure. The filing references SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full compliance with listing obligations.

What This Means for Governance

The clarification ensures transparency in director transitions, a key focus for regulatory compliance under SEBI’s Listing Regulations. By confirming the absence of material disputes, Atal Realtech Limited mitigates potential investor concerns about internal governance conflicts. The company must now appoint a new Independent Director within the timeframe prescribed by regulations to maintain board composition requirements.

Atal Realtech Ltd has strengthened its governance structure by appointing Mr. Omprakash Mohanlal Rungta as an Additional Non-Executive Independent Director for a five-year term. The appointment, effective July 21, 2026, is subject to the approval of shareholders at the ensuing general meeting. The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee.

Mr. Rungta replaces Mr. Akshay Vinod Dhongade as a member of the Nomination and Remuneration Committee. The reconstitution of the committee is effective immediately. The updated composition includes Ms. Sharanya Shashikant Shetty as Chairperson and Mr. Kuntal Manoj Badiyani as a member, alongside Mr. Rungta.

Mr. Omprakash Mohanlal Rungta (DIN: 11807439) is a retired banker who served at Bank of Baroda from December 1984 until his retirement as Assistant General Manager in January 2020. He graduated from Mumbai University in 1980 with a BSc (Hons) in Chemistry. Currently, he is engaged in financial advisory and consultancy services. The company confirmed there are no inter-se relationships between Mr. Rungta and other Board members, and he does not hold any shares in the company.

The Board meeting commenced at 04:30 p.m. and concluded at 05:30 p.m. on July 21, 2026. The disclosures regarding the appointment were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated November 11, 2024.

Nomination and Remuneration Committee Composition