Modi Rubber Limited: Independent Director Tarun Agrawal Resigns with Immediate Effect
Modi Rubber Limited has disclosed the resignation of Mr. Tarun Agrawal as Independent Director, effective May 15, 2026, citing personal reasons and professional commitments. As a result, he also ceases to be a member of all Board Committees of the Company. Mr. Agrawal confirmed there are no other material reasons for his resignation beyond those stated. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Modi Rubber Limited has informed the stock exchanges of the resignation of Mr. Tarun Agrawal from his position as Independent Director of the Company, with effect from May 15, 2026. The intimation was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Resignation Details
Mr. Tarun Agrawal, who serves as a Senior Advocate, submitted his resignation letter dated May 15, 2026, which was received by the Company via e-mail at 15:52 PM (IST) on the same date. In his resignation letter addressed to the Board of Directors, Mr. Agrawal cited personal reasons and other professional commitments as the basis for his decision. He further confirmed that there are no other material reasons for his resignation beyond those mentioned.
The key details of the resignation disclosure, as required under the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are summarised below:
| Parameter: | Details |
|---|---|
| Name of Director: | Mr. Tarun Agrawal |
| Designation: | Independent Director |
| Reason for Cessation: | Resignation due to personal reasons and professional commitments |
| Effective Date: | May 15, 2026 |
| Committee Memberships: | Ceases to be a member of all Committees of the Company |
| Material Reasons (Other): | None confirmed by the director |
Board Committee Impact
As a consequence of the resignation, Mr. Tarun Agrawal will also cease to be a member of all Committees of the Board of Directors of Modi Rubber Limited with immediate effect from the date of cessation. The disclosure further notes that Mr. Agrawal does not hold directorships in any other listed entities, and accordingly, no committee positions in other listed companies are applicable.
Regulatory Compliance
The resignation intimation was filed by SK Bajpai, Head-Legal & Company Secretary of Modi Rubber Limited, in accordance with the applicable listing regulations. The Company has enclosed the letter of resignation received from Mr. Tarun Agrawal as part of the regulatory disclosure, along with the detailed Annexure I as mandated under the SEBI framework.
Historical Stock Returns for Modi Rubber
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.43% | +0.95% | +1.70% | +17.84% | -1.57% | +71.67% |
Who will Modi Rubber Limited appoint as a replacement Independent Director, and how quickly must the company fill this vacancy to maintain SEBI-mandated board composition requirements?
How will the departure of Mr. Tarun Agrawal, a Senior Advocate, impact Modi Rubber's board committees, particularly any audit or legal oversight functions that may have benefited from his legal expertise?
Could this resignation signal broader governance challenges at Modi Rubber Limited, and how might institutional investors or analysts reassess the company's corporate governance rating?
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