Lykis Limited Announces Resignation of Independent Director Mrs. Mangala Prabhu
Lykis Limited announced the resignation of Mrs. Mangala Prabhu as Non-Executive Independent Director effective April 01, 2026, due to change in management. She served on the company's Audit Committee and chaired the Nomination & Remuneration Committee, while also holding independent director positions at Kesoram Industries Limited, Siyaram Silk Mills Limited, and Ladderup Finance Limited. The company confirmed no material reasons exist for her departure beyond those mentioned in her resignation letter.
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Lykis Limited has informed the stock exchanges about the resignation of Mrs. Mangala Prabhu as Non-Executive Independent Director, effective April 01, 2026. The company filed the intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Resignation Details
Mrs. Mangala Prabhu (DIN: 06450659) submitted her resignation letter on April 01, 2026, citing change in management as the primary reason for her departure. The resignation became effective immediately on the same date.
| Parameter | Details |
|---|---|
| Director Name | Mrs. Mangala Prabhu |
| DIN | 06450659 |
| Position | Non-Executive Independent Director |
| Resignation Date | April 01, 2026 |
| Effective Date | April 01, 2026 |
| Reason | Change in management |
Board Committee Positions
At Lykis Limited, Mrs. Prabhu served as a member of the Audit Committee and Chairman of the Nomination & Remuneration Committee. Her resignation will necessitate reconstitution of these committees to maintain compliance with regulatory requirements.
Other Directorships
Mrs. Prabhu held independent director positions across multiple listed entities, demonstrating her extensive experience in corporate governance:
| Listed Entity | Committee Positions |
|---|---|
| Kesoram Industries Limited | Stakeholders Relationship Committee – Member, Audit Committee - Member |
| Siyaram Silk Mills Limited | Audit Committee - Member |
| Ladderup Finance Limited | No committee positions |
Regulatory Compliance
The company has confirmed receipt of Mrs. Prabhu's resignation letter and her confirmation that there are no material reasons for resignation beyond those stated in her letter dated April 01, 2026. Lykis Limited has uploaded this intimation on its website at www.lykis.com and will file necessary forms with the Registrar of Companies and stock exchanges.
The resignation follows standard corporate governance procedures, with the company ensuring full compliance with SEBI regulations regarding director changes and related disclosures.
Historical Stock Returns for Lykis
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.93% | +2.12% | -9.59% | +21.64% | +64.33% | +75.04% |
What specific changes in Lykis Limited's management structure prompted Mrs. Prabhu's resignation and how might this impact the company's strategic direction?
How will Lykis Limited reconstitute its Audit Committee and Nomination & Remuneration Committee to maintain regulatory compliance, and who are the potential candidates?
Could Mrs. Prabhu's departure signal broader governance concerns that might affect investor confidence in Lykis Limited?
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