Oswal Overseas Limited announced that Anoop Kumar Srivastava has resigned from his position as Director, effective July 16, 2026. The resignation was tendered due to his other professional commitments and health issues. The company received the resignation letter on July 17, 2026, and has subsequently informed the stock exchanges about this development.

The disclosure was made to BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the resignation is effective from the close of business hours on July 16, 2026. The intimation was signed by Lalit Kumar, the Company Secretary & Compliance Officer of oswal overseas .

Details of Resignation

The company provided specific details regarding the cessation of the director's role as required under the SEBI regulations. The table below outlines the key particulars of the change.

In his resignation letter addressed to the Board of Directors, Anoop Kumar Srivastava requested that his name be removed from the Records of the Registrar of Companies immediately. He also asked the company to acknowledge the receipt of the letter and submit the necessary forms to the Registrar of Companies. The director cited health issues and other professional commitments as the reasons for stepping down from the role.

Oswal Overseas has secured relief from the National Company Law Appellate Tribunal (NCLAT), with actions under the Corporate Insolvency Resolution Process (CIRP) being paused following a settlement with L H Sugar Factories. The order dated 24 June 2026 directs the Interim Resolution Professional (IRP) to refrain from taking further steps pursuant to the impugned order initiating CIRP until the next date of listing. The matter has been listed for further hearing on 08 July 2026.

Key Developments at a Glance

The following table outlines the key details of the legal development:

NCLAT Grants Pause on CIRP Proceedings

The NCLAT's decision to pause CIRP actions against Oswal Overseas follows an amicable settlement between the company and L H Sugar Factories. The tribunal observed that, in view of the provisions of Section 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A of the CIRP Regulations, 2016, the parties would be required to approach the Adjudicating Authority for the withdrawal of the CIRP. The tribunal noted that the proceedings may not be terminated in the appeal itself, necessitating a formal application to the Adjudicating Authority.

The agreement with L H Sugar Factories was a decisive factor in the NCLAT granting this relief. The development provides the company with a temporary reprieve from the insolvency proceedings, allowing both parties to pursue the terms of their agreement. The IRP submitted that two claims, one financial and one operational, had been received pursuant to the impugned order. The tribunal permitted the IRP to file a reply to the appeal, with the appellant allowed to file a rejoinder thereafter.