Brandman Retail has accepted the resignation of Gaurav Sharma as Additional Independent Director, effective July 25, 2026. The departure follows Sharma’s letter dated July 25, 2026, citing pre-occupations and personal commitments as the primary reasons for his exit. Consequently, he ceases to be a member of the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee immediately upon his resignation.

The company disclosed the development in a filing with the National Stock Exchange of India Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015. The intimation was issued by Arun Malhotra, Managing Director of Brandman Retail Limited, confirming that Sharma’s resignation was tendered with immediate effect. The filing also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the disclosure requirements for such events.

Sharma confirmed in his resignation letter that there are no other material reasons for his departure beyond those stated. He requested the company to complete necessary statutory filings, including Form DIR-12 with the Registrar of Companies (ROC), within the prescribed timeline. His exit creates vacancies in key board committees, which the Board will need to fill in accordance with regulatory norms.

Directorship Details

Sharma continues to hold directorships in other listed entities. His current board positions include:

What This Means for Governance

The loss of an Additional Independent Director reduces the number of independent voices on Brandman Retail’s board until a replacement is appointed. Investors should monitor subsequent filings for the appointment of a new director to maintain compliance with SEBI’s independence requirements. The resignation does not impact the company’s ongoing operations or financial performance, as it is a governance-related change rather than an operational one.

The Board of Directors is expected to initiate the process for appointing a new Additional Independent Director in due course, ensuring continued oversight of audit, remuneration, and stakeholder relations matters.

Brandman Retail Limited has reconstituted its Internal Complaints Committee (ICC) to ensure continued compliance with statutory provisions regarding workplace safety. The Board of Directors approved the reconstitution on June 26, 2026, in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules made thereunder.

The reconstituted committee will oversee complaints and redressal mechanisms within the organization. The Board meeting, where this decision was finalized, commenced at 5:00 PM IST and concluded at 5:30 PM IST on June 26, 2026.

The composition of the new committee includes a mix of internal and external members to ensure impartiality. Ms. Kavya Malhotra has been appointed as the Presiding Officer, while Ms. Sony Masand and Mr. Krishna Sharma serve as members. Mrs. Varsha Agarwalla joins the committee as the External Member.

Committee Composition

The disclosure was submitted to the National Stock Exchange of India Limited to inform stakeholders. The company stated that the move is aimed at maintaining adherence to applicable legal requirements.