GE Vernova T&D India Limited has seen Neera Saggi cease to be an Independent Director with effect from July 26, 2026. Saggi completed her second and final term as an Independent Director on July 25, 2026, marking the end of her tenure on the Board. The departure is a routine succession event resulting from the completion of the statutory maximum tenure for independent directors.

The company issued the intimation on July 26, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd. (NSE). The notice was signed by Shweta Mehta, Company Secretary & Compliance Officer of GE Vernova T&D India Limited.

Board Composition Change

Saggi, identified by DIN 00501029, served two consecutive terms as an Independent Director. Under Indian corporate governance norms, an individual cannot serve as an Independent Director for more than two terms. Her cessation is therefore mandatory upon the expiry of the second term.

The company referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in its disclosure. The circular provides guidelines on the appointment and resignation of directors, ensuring transparency in board changes.

Governance Implications

The exit of an Independent Director requires the company to consider filling the vacancy to maintain the required proportion of independent directors on the Board. While the current filing does not announce a successor, companies typically initiate a search process or propose a new candidate at the next Board meeting or Annual General Meeting. The Board must ensure that the composition remains compliant with Listing Regulations at all times.

Shweta Mehta, acting as the Compliance Officer, confirmed the details in the intimation letter addressed to the listing departments of BSE and NSE. The corporate office for GE Vernova T&D India Limited is located in Noida, Uttar Pradesh. The company continues to operate under the symbol GVT&D on Indian stock exchanges.

A notable block trade was recorded on the National Stock Exchange (NSE) for GE Vernova T&D India Ltd., with approximately 83,072 shares changing hands in a single transaction. The trade was executed at a price of ₹4846.10 per share, aggregating to a total deal value of ₹40.26 crores.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Block trades of this scale are typically executed by institutional investors or large market participants and are carried out outside the regular order book to minimise market impact. The transaction in GE Vernova T&D India Ltd. represents a significant single-session movement in the company's shares on the NSE.