Shree Ajit Pulp and Paper accepted the resignation of Ms. Reema Kalani as an independent director, effective close of business on August 24, 2026.

Ms. Kalani cited pre-occupation and other personal commitments as the reason for her departure. The company confirmed that there were no other material reasons for her resignation.

Regulatory Compliance

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shree Ajit Pulp stated that it continues to comply with Section 149(4) of the Companies Act, 2013, which mandates that at least one-third of the total number of directors be independent directors.

Ms. Kalani confirmed in her resignation letter that she has no claims against the company for loss of office or accrued remuneration. Similarly, the company has no claims against her.

Director Details

Shree Ajit Pulp and Paper Limited has temporarily suspended operations at its primary manufacturing facility in Vapi, Gujarat, effective July 23, 2026, due to severe flooding caused by incessant heavy rainfall. The disruption affects the company’s production capabilities as waterlogging has restricted access to critical areas of the plant, creating an unprecedented operational challenge for the manufacturer. This suspension poses immediate risks to supply continuity and short-term revenue generation, although management asserts that insurance coverage is in place to mitigate asset-related financial losses.

The intimation was filed with BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Chinmay Methiwala, Company Secretary and Compliance Officer, disclosed that the facility located at Survey No. 239, Near Morai Railway Crossing, Village Salvav, Via-Vapi, Dist. Valsad, Gujarat – 396191, faced severe waterlogging. The company described the situation as unprecedented, noting it had never encountered such conditions previously.

Operational Impact and Assessment

Operations were halted as a precautionary measure given the prevailing conditions on July 23, 2026. The company is currently in the process of assessing the extent of damage to its plant, machinery, inventory, and other assets. However, the total financial impact cannot be determined at this stage because ongoing waterlogging continues to restrict physical access to certain sections of the manufacturing facility.

Risk Mitigation and Next Steps

Management stated that the company’s insurance plans provide sufficient coverage for the assets at the aforementioned manufacturing plants. All necessary steps have been taken to protect assets, evaluate damage, and facilitate a quick resumption of operations once conditions permit. The company indicated that additional information, including any potential effects on future operations, will be shared as soon as it becomes available. No specific timeline for resumption was provided in the filing.