Jaiprakash Power Ventures has notified the stock exchanges of the departure of Smt. Vandana R. Singh from its Board of Directors. The Independent Director will cease to hold office effective July 26, 2026, after completing her maximum permissible tenure under corporate governance regulations. This transition ensures compliance with Section 149(11) of the Companies Act, 2013, which limits independent directors to two consecutive terms.

The company filed the disclosure with the National Stock Exchange of India Ltd and BSE Limited on July 25, 2026, in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The filing confirms that Singh’s exit follows the conclusion of her second three-year term. Her Director Identification Number (DIN) is 03556920.

Key Details of Cessation

Mahesh Kumar Chaturvedi, General Manager and Company Secretary of Jaiprakash Power Ventures, signed the disclosure letter. He holds FCS number 3188. The communication was addressed to the Listing Departments of both major Indian exchanges, requesting that the information be taken on record.

What This Means for Governance

The departure marks a routine governance event driven by statutory tenure limits rather than performance or strategic shifts. Companies must now initiate the process to appoint a successor Independent Director to maintain the required composition of the Board. Until a new appointment is made and approved by shareholders if required, the Board may operate with a vacancy or under any transitional arrangements permitted by its articles of association.

jaiprakash power ventures issued an addendum to its 31st Annual General Meeting (AGM) notice on July 24, 2026, to include mandatory director disclosures that were inadvertently omitted from the original circular. The company stated that explanatory statements relating to the brief profiles of three proposed directors, as required under Secretarial Standard on General Meetings (SS-2) issued by the Institute of Company Secretaries of India (ICSI), were missing due to an administrative oversight. This correction ensures shareholders have complete information before voting on the appointments at the AGM scheduled for July 30, 2026. The addendum serves as an integral part of the original notice dated May 22, 2026, and is available on the company’s website and exchange portals.

The Board of Directors had previously appointed these individuals as Additional Directors effective May 22, 2026, subject to shareholder ratification. The addendum provides detailed profiles for Savan Jayendra Patel, proposed as Whole-time Director; Jayadeb Nanda, proposed as Non-Executive Non-Independent Director; and Naresh Telgu, also proposed as Non-Executive Non-Independent Director. All three appointees have no shareholding in the company and are not related to any existing directors or key managerial personnel. The filings confirm their qualifications, experience, and terms of appointment in compliance with Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Proposed Director Profiles

The disclosures highlight the extensive industry experience of the proposed appointees, particularly within the power sector and the Adani Group.

Savan Jayendra Patel brings nearly three decades of experience with the Adani Group, currently serving as Chief Commercial Officer of Adani Power Limited. He oversees strategic procurement of domestic and imported coal, power sales, and commercial risk management. Jayadeb Nanda has over 34 years in the power sector, having served as Advisor for Operations & Maintenance at Adani Power and previously rising to Executive Director at NTPC. Naresh Telgu drives large-scale project development for the Adani Group, including pumped storage and hydro projects across Asia, Africa, and the Middle East.

Other AGM Business Items

Beyond the director appointments, the AGM will address several other resolutions. Shareholders will vote on the ratification of remuneration for Cost Auditors M/s. Sanjay Gupta & Associates, set at ₹2,00,000 exclusive of taxes for FY26-27. The meeting will also approve the appointment of three Independent Directors: Shruti Anup Shah, Jayant Misra, and Mukesh M. Shah. Notably, Mukesh M. Shah will attain the age of 75 during his tenure, requiring a special resolution under SEBI regulations for his continuation beyond that age.

Additionally, shareholders must approve the payment of remuneration by way of commission to former executive and non-executive directors who served during FY25-26. This includes a special resolution for Shri Manoj Gaur, former Chairman, whose proposed commission of ₹4.00 crore exceeds 50% of the total annual remuneration payable to all non-executive directors. The total commission payable to former executive directors is capped at ₹6.50 crore, while non-executive directors are capped at ₹5.00 crore, both calculated based on net profits under Section 198 of the Companies Act, 2013.

What the Numbers Show

The structure of the remuneration approvals highlights a significant concentration of compensation towards senior leadership and former executives who guided the company through FY25-26. The proposal to pay Shri Manoj Gaur ₹4.00 crore individually, which constitutes 80% of the total ₹5.00 crore pool for non-executive directors, underscores his pivotal role in the company’s recent operational milestones, including the repayment of approximately 40% of restructured loans. Meanwhile, the appointment of new directors like Savan Jayendra Patel without any entitlement to remuneration suggests a strategic focus on leveraging industry expertise for governance and operational oversight rather than immediate financial compensation.