Vandan Foods accepts Manish Bachani's resignation as independent director
Vandan Foods Limited announced the resignation of Independent Director Manish Shrichand Bachani effective July 24, 2026, due to professional commitments. Bachani holds significant committee roles at four other listed companies. The company confirmed no other material reasons for his departure and has notified stock exchanges as per SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Vandan Foods has accepted the resignation of Manish Shrichand Bachani from his position as Independent Director, effective with immediate effect till the close of business hours on July 24, 2026. The Ahmedabad-based food processing company disclosed the change in board composition to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bachani’s departure is attributed to other professional commitments and resulting time constraints that limit his ability to fulfill director duties.
The intimation was issued by Managing Director Rakeshkumar Rameshbhai Patel on July 24, 2026. In his resignation letter, Bachani confirmed that there are no other material reasons for his exit beyond the stated professional commitments. He emphasized that stepping down was necessary to uphold high standards of corporate governance given his limited availability. The Board acknowledged receipt of the resignation and initiated statutory notifications to stock exchanges.
Bachani continues to hold directorships in four other listed entities, maintaining active roles in key board committees across these organizations. His current portfolio includes positions in Scarnose International Limited, Bridge Securities Limited, Svarnim Trade Udyog Limited, and Dipna Pharmachem Limited. At Add-Shop E-Retail Limited, he also serves as a director, though specific committee memberships were not detailed in the filing.
Current Directorships of Resigning Director
| Company Name | Committee Memberships |
|---|---|
| Scarnose International Limited | Audit Committee (Chairman), Nomination and Remuneration Committee (Member), Stakeholders Relationship Committee (Member) |
| Bridge Securities Limited | Audit Committee (Member), Nomination and Remuneration Committee (Chairman), Stakeholders Relationship Committee (Member) |
| Svarnim Trade Udyog Limited | Audit Committee (Member), Nomination and Remuneration Committee (Member) |
| Dipna Pharmachem Limited | Audit Committee (Member), Nomination and Remuneration Committee (Member), Stakeholders Relationship Committee (Member) |
| Add-Shop E-Retail Limited | Not specified |
Governance Implications
The loss of an independent director requires Vandan Foods to ensure continued compliance with SEBI listing regulations regarding board composition. Independent directors play a critical role in audit, nomination, and stakeholder relationship committees. With Bachani’s exit, the company must assess whether its remaining independent directors can adequately cover these mandatory committee requirements or if a replacement appointment is needed to maintain regulatory compliance. The filing did not specify any immediate plans for appointing a successor.
Historical Stock Returns for Vandan Foods
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -8.08% | -12.57% | -44.02% | -52.24% | -79.79% |
How quickly will Vandan Foods initiate the search for a new Independent Director to ensure continued compliance with SEBI's board composition regulations?
Will the departure of Manish Bachani impact the quorum or decision-making dynamics of Vandan Foods' Audit and Nomination & Remuneration committees in the interim period?
Given Bachani's extensive portfolio across five listed entities, does his resignation signal a broader trend of independent directors reducing their board commitments due to regulatory scrutiny or time constraints?
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