The Bombay Burmah Trading Corporation Limited has accepted the resignation of Jeya Harris Naveen as Chief Operating Officer of its Electromags Division, effective August 4, 2026. The departure, attributed to personal reasons, marks a leadership change within the company’s electromagnets business unit, which operates under Electromags (EAPL). Naveen served as a Senior Management Personnel member during his tenure.

The resignation was formally disclosed to the Bombay Stock Exchange and the National Stock Exchange of India Limited on August 4, 2026. The disclosure was made pursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/II/3762/2026 dated January 30, 2026.

Naveen submitted his resignation letter on May 5, 2026, addressed to Ness Wadia, Managing Director of The Bombay Burmah Trading Corporation Limited. In the letter, Naveen stated that he continued to discharge his responsibilities during the contractual notice period following discussions with management. This arrangement was intended to support the company’s ongoing business requirements and transition activities within the division.

Resignation Details

The resignation letter confirmed that Naveen’s last working day would be August 4, 2026, coinciding with the completion of his contractual notice period. He expressed gratitude to the Board, management, and colleagues for the opportunity to serve Electromags, The Bombay Burmah Trading Corporation Limited, and the Wadia Group.

Lalita Rajesh, Chief Financial Officer of The Bombay Burmah Trading Corporation Limited, signed the exchange filing on August 4, 2026. The company enclosed a copy of Naveen’s resignation letter with the disclosure. No brief profile or relationship disclosures were provided in the annexure, as these were marked as not applicable for this specific personnel change.

Bombay Burmah Trading has filed a detailed Interlocutory Application before the Supreme Court seeking to recall and expunge observations pertaining to lease rent contained in the Court's order dated May 29, 2026. The application follows the Court's reliance on a report by the Central Empowered Committee (CEC), which recorded that certain lease rentals remain to be recovered by the State Government. The Corporation argues that the CEC report relies on an unapproved internal calculation of ₹4,655 crs by a department lacking jurisdiction, and it has received no formal demand or communication from the Government regarding this amount.

Background: Singampatti Tea Estate and Cessation of Operations

The judicial proceedings concern the Corporation's tea estate in Singampatti, Tamil Nadu, held under a 99-year lease dated February 12, 1929. In December 2023, the Corporation determined that continuing the leasehold rights was unviable and ceased all plantation and factory operations effective June 16, 2024. Consequently, a Voluntary Retirement Scheme (VRS) was introduced for 534 workers, with dues paid or deposited with the Assistant Commissioner of Labour (Plantation) for disbursement.

Workmen challenged the cessation of operations through Writ Petitions before the Madurai Bench of the Madras High Court, which were dismissed on December 3, 2024. Following this, the Corporation began handing over land to the State Forest Department. On May 8, 2025, it handed over 8,152.13 acres of the total 8,373.57 acres, temporarily retaining 221.44 acres containing bungalows and factory buildings to remove movables.

Land Handover and Supreme Court Proceedings

The Supreme Court order acknowledged the substantial progress made in handing over possession and the completion of VRS settlements. The Corporation subsequently demobilised all movables, dismantled machinery, and demolished factory buildings on the retained land. It handed over possession of this final 221.44 acres to the Forest Department on an "as is where is basis" on July 11, 2026.

Lease Rent Dispute

The dispute over lease rent is distinct from the land handover proceedings. The Supreme Court order directs the State to follow the orders of the Madras High Court, which had previously quashed demands of ₹231.9 crs and remanded the matter for re-quantification. The High Court had mandated that notice be issued to the Corporation by September 8, 2025, and proceedings concluded by October 15, 2025, after hearing the appellant. The Corporation asserts that no such notice or opportunity for hearing has been provided regarding the ₹4,655 crs figure.

The following table summarises the key dates, figures, and details central to the Singampatti tea estate proceedings: