Elitecon International Limited has experienced a significant leadership exodus with four key personnel submitting their resignations within a two-day period in April 2026. The BSE-listed company announced these developments following its board meeting held on April 08, 2026.

Mass Resignations Rock Leadership Structure

The board meeting, which commenced at 05:00 P.M. and concluded at 06:00 P.M. on April 08, 2026, formally recorded multiple high-level resignations that occurred between April 02 and April 03, 2026. The resignations span across critical positions including independent directors, chief financial officer, and company secretary.

Independent Directors Exit Board

The company lost two independent directors in consecutive days. Mr. Susanta Kumar Panda submitted his resignation letter on April 02, 2026, stepping down from his role as Non-Executive Independent Director with immediate effect. Following this, Ms. Anjali Bamboria tendered her resignation on April 03, 2026, also effective from the same date.

Key Management Personnel Departures

The leadership vacuum extends to critical operational roles. Mr. Sachin Ashokrao Sabale resigned from his position as Chief Financial Officer on April 03, 2026, while Ms. Rajlaxmi Saini stepped down from her dual role as Company Secretary and Compliance Officer on April 02, 2026. Both resignations were effective immediately from their respective submission dates.

Regulatory Compliance and Documentation

The company has fulfilled its regulatory obligations by informing the BSE Limited and The Calcutta Stock Exchange Limited about these changes. All resignations have been documented in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. The detailed information has been provided as per SEBI Master Circular requirements dated January 30, 2026, and November 11, 2024.

Corporate Governance Impact

The simultaneous departure of multiple key personnel, particularly two independent directors and the CFO within such a short timeframe, represents a significant change in the company's leadership structure. The resignations were announced by Managing Director Vipin Sharma, who digitally signed the communication on April 08, 2026, at 19:00:52 +05'30'.

Elitecon International Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Sachin Ashokrao Sabale, effective from April 03, 2026. The resignation was communicated to stock exchanges on April 04, 2026, in compliance with regulatory disclosure requirements.

Resignation Details

Mr. Sachin Ashokrao Sabale tendered his resignation through a formal letter dated April 03, 2026, citing personal reasons for his departure. The resignation became effective from the closing hours of April 03, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to multiple stock exchanges where the company is listed.

Stock Exchanges Notified:

• BSE Limited (Scrip Code: 539533)
• The Calcutta Stock Exchange Ltd.

The disclosure included all required details as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Board Action

The resignation will be formally taken on record at the ensuing meeting of the Board of Directors of Elitecon International Limited. Managing Director Vipin Sharma (DIN: 01739519) signed the regulatory filing on behalf of the company.

In his resignation letter, Mr. Sabale expressed gratitude to the board of directors for their support during his tenure and requested the company to file necessary documents with the Registrar of Companies to give effect to his resignation.