Susan Electricals has accepted the resignation of Manoj Kumar from the position of Non-Executive Director, effective from the close of business hours on August 5, 2026. The departure is attributed to personal reasons, with Kumar explicitly stating that his exit is not driven by any disagreement with the Board, management, or matters relating to the company’s affairs. Consequently, he also ceases to be a member of the Nomination and Remuneration Committee and the Stakeholders Relationship Committee as of the same date.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited by Reshma Shukla, Company Secretary & Compliance Officer, on August 5, 2026. The intimation aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Resignation Details

Manoj Kumar (DIN: 08332775) tendered his resignation via email and a formal letter dated August 5, 2026. In his resignation letter addressed to the Board of Directors in New Delhi, Kumar clarified that there are no material reasons for his resignation other than the personal circumstances stated. He requested the Board to accept the resignation and file necessary forms with the Registrar of Companies, Stock Exchanges, and other regulatory authorities.

Regulatory Compliance

The company confirmed that the resignation letter enclosed with the filing contains detailed reasons and confirms the absence of any undisclosed material issues. Under Para A(7C) of Part A of Schedule III to the SEBI Listing Regulations, the company provided confirmation that there are no material reasons for resignation other than those explicitly stated in the resignation letter. Manoj Kumar does not hold any directorship or membership of Board Committees in any other listed entity as of the date of resignation.

Susan Electricals India Limited will hold a Board of Directors meeting on August 07, 2026, at 03:00 PM to consider the implementation of its Employee Stock Option Plan, 2026 (SEIL-ESOP 2026). The Board is set to recommend this equity-based compensation structure to shareholders for final approval, alongside approving the incorporation of “Susan Foundation” and investments therein. These strategic initiatives aim to align employee interests with long-term company growth while establishing a formal vehicle for corporate social responsibility activities. The decisions require shareholder ratification at an Extra-Ordinary General Meeting (EGM) scheduled for September 03, 2026.

The prior intimation was filed with BSE Limited on July 30, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing, signed by Company Secretary Reshma Shukla, outlines the specific agenda items for consideration by the Board. The procedural framework ensures transparency in the approval process for significant corporate actions involving equity dilution and new entity formation.

Key Agenda Items

The Board meeting focuses on four primary resolutions requiring director approval before being tabled for shareholders:

The introduction of the SEIL-ESOP 2026 represents a material change in the company’s compensation strategy, allowing it to grant stock options to employees. This mechanism is typically used to retain talent and incentivize performance linked to share price appreciation. Simultaneously, the incorporation of Susan Foundation formalizes the company’s approach to charitable contributions, ensuring dedicated management of CSR funds as per regulatory expectations.

Shareholder Action Required

Shareholders must note that the ESOP scheme and related matters are not effective until approved at the Extra-Ordinary General Meeting. The Board has fixed the EGM date for September 03, 2026. A scrutinizer will be appointed during the upcoming Board meeting to oversee the voting process for these resolutions, ensuring compliance with SEBI regulations regarding postal ballots or physical meetings.

What the Numbers Show

While no financial figures are disclosed in this intimation, the decision to launch an ESOP scheme signals management’s confidence in future valuation multiples. Equity-based compensation plans often precede periods of aggressive growth or restructuring, as they tie executive and employee rewards directly to market performance rather than fixed cash outlays. The simultaneous creation of a foundation suggests a maturing corporate governance structure, separating philanthropic activities from core operational finances.