Iykot Hitech Toolroom accepts director resignation
Iykot Hitech Toolroom Limited accepted the resignation of Velli Paramasivam as Independent Director effective June 30, 2026. The resignation was attributed to personal reasons, and the director confirmed no other material factors prompted the decision. Consequently, Paramasivam has ceased to be a member of the company's Board committees.
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Iykot Hitech Toolroom Limited accepted the resignation of Velli Paramasivam from the position of Independent Director, effective June 30, 2026. The resignation, submitted due to personal reasons, was communicated to the stock exchange pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Consequently, Paramasivam has ceased to serve as Chairman or Member of the Board committees in which he was previously involved.
The Board of Directors acknowledged the departure, placing on record its appreciation for the contributions made by Paramasivam during his tenure. The company confirmed that it has received a statement from the resigning director affirming that there are no material reasons for his departure beyond those cited in his resignation letter dated June 30, 2026.
The disclosure details regarding the resignation were submitted in compliance with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015. The intimation was filed by Sukumar Anand Shetty, Additional Director of Iykot Hitech Toolroom Limited.
Details of Resignation
| S.no | Particulars | Remarks |
|---|---|---|
| 1. | Name of Director resigned | Velli Paramasivam |
| 2. | Reason for resignation | Personal Reasons |
| 3. | Names of listed entities where resigning director holds directorship | Nil |
| 4. | Date of resignation | 30-06-2026 |
| 5. | Confirmation regarding absence of material reasons | Yes |
| 6. | Disclosure | Resignation letter attached |
Who will Iykot Hitech appoint to fill the vacancy left by Velli Paramasivam, and how will this impact board governance?
What strategic changes or shifts in focus might the company pursue following the departure of this independent director?
How will the resignation affect the composition and effectiveness of the Board committees previously led by Paramasivam?
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