Maharashtra Seamless confirmed the sudden and sad demise of Mr. Ashok Bhandari, an Independent Director on its Board, on August 3, 2026. His passing represents a significant loss for the steel manufacturer, triggering immediate changes in its corporate governance structure as he ceased to be a Director on the Board and all associated committees from that date.

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to both the Bombay Stock Exchange and the National Stock Exchange of India Limited. Ram Ji Nigam, Company Secretary & Compliance Officer, signed the communication, which was dated August 3, 2026.

Board Composition Impact

Mr. Bhandari’s DIN is 00012210. As per the regulatory filing, his cessation from the Board and all other Committee(s) of the Board of Directors became effective immediately upon his death on August 3, 2026. This departure reduces the number of independent directors on the Board until a replacement is appointed in accordance with the Companies Act and SEBI Listing Regulations.

The company provided detailed disclosures in Annexure-I, referencing SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The annexure categorizes the reason for change as "Death" and records the date of cessation as August 3, 2026.

Condolences

The Board of Directors and employees of Maharashtra Seamless Limited expressed their condolences to Mr. Bhandari’s family. The company described his unexpected demise as an irreparable loss. No further details regarding the cause of death or immediate succession plans were disclosed in this filing.

Maharashtra Seamless Limited accepted the resignation of Arup Mandal from the position of Chief Financial Officer, effective July 2, 2026. The resignation was submitted due to personal reasons, marking a change in the company's financial leadership structure. The disclosure was made to the stock exchanges in compliance with regulatory requirements.

The company informed BSE Limited and National Stock Exchange of India Limited regarding the cessation of the CFO's role. The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed disclosure required under the SEBI Master Circular was also provided to the exchanges.

Resignation Details

The resignation of Mr. Arup Mandal was formally communicated to the Managing Director of Maharashtra Seamless on July 2, 2026. In his resignation letter, he cited personal reasons for stepping down and requested to be relieved on the same date. He expressed gratitude for the opportunity to work with the organization.

The following table summarizes the key details of the regulatory disclosure:

The filing was signed by Ram Ji Nigam, Company Secretary & Compliance Officer of Maharashtra Seamless Limited, on July 3, 2026. The company confirmed that the resignation letter and the detailed reason for the departure were attached as part of the regulatory submission.