Stellar Capital Services clarified the delay in filing the resignation of Independent Director Kalpnath Patel, effective August 22, 2026. The company attributed the late disclosure to an inadvertent lapse during a transition in the office of the Company Secretary.

The firm filed a clarification letter with BSE Limited on September 1, 2026, addressing a discrepancy remark regarding the failure to inform the exchange within 24 hours of the resignation's effective date. The original cessation was disclosed on August 31, 2026, under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Resignation Details

Kalpnath Patel tendered his resignation due to personal and professional commitments requiring greater time and attention. He confirmed there were no other material reasons for his departure. The board acknowledged his resignation letter dated August 22, 2026.

Clarification on Filing Delay

In its response to the BSE, Stellar Capital Services stated that the delay was neither intentional nor deliberate. The company cited the transition in the Company Secretary’s office, including the handover of records and pending compliance matters, as the primary cause. A communication gap during this period, coupled with intervening festival and non-working days, further contributed to the delay.

The company noted that as per Part A of Schedule III of the SEBI (LODR) Regulations, 2015, listed entities must disclose an independent director’s resignation letter along with detailed reasons within seven days of it coming into effect. The disclosure was made on August 31, 2026, which falls within this seven-day window from the August 22 effective date.

Stellar Capital Services has strengthened its internal compliance mechanisms to ensure timely filings in the future. Rishabh Aneja, a director at the company, signed the clarification letter dated September 2, 2026.

Stellar Capital Services clarified to the Bombay Stock Exchange on September 1, 2026, that the delay in filing the resignation of Independent Director Rohit Kumar was inadvertent. The company attributed the lapse to a transition in the office of the Company Secretary.

Mr. Kumar’s resignation became effective on August 22, 2026. However, Stellar Capital Services disclosed the cessation to the BSE only on August 31, 2026. This nine-day gap prompted a discrepancy remark from the exchange regarding the failure to inform details within 24 hours.

Clarification on Delay

In a letter dated September 1, 2026, signed by Director Rishabh Aneja, the company stated that the delay arose primarily due to the handover of records and pending compliance matters during the Company Secretary transition. The company also cited a communication gap and intervening festival or non-working days as contributing factors.

The company emphasized that the delay was neither intentional nor deliberate. It has since strengthened its internal compliance mechanisms to ensure timely filings in the future.

Regulatory Context

The company referenced Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This provision mandates that listed entities disclose an independent director’s resignation letter and detailed reasons within seven days of the resignation becoming effective.

Stellar Capital Services submitted its disclosure on August 31, 2026, which falls within this seven-day window from the effective date of August 22, 2026. The company requested the exchange to condone the delay based on these circumstances.

Resignation Details

Mr. Kumar, holding DIN No. 10881518, tendered his resignation due to personal and professional commitments requiring greater time and attention. He confirmed there were no other material reasons for his departure. His resignation letter, dated August 22, 2026, expressed appreciation for the support received during his tenure.