Amalgamated Electricity Company Limited has issued a formal clarification to BSE Limited regarding the recent resignation of its Independent Director, providing additional transparency on the corporate governance matter.

Director Resignation Details

The company clarified the circumstances surrounding Ms. Aradhana Kurup's resignation from her position as Independent Director. The resignation details are outlined below:

Regulatory Compliance and Clarification

The clarification was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the initial announcement made on January 13, 2026. Company Secretary and Compliance Officer Gaurav Sakpal confirmed that no additional material reasons exist for the resignation beyond those previously disclosed to the stock exchange.

The company emphasized that the resignation was solely due to personal reasons and professional commitments, with no other underlying factors contributing to Ms. Kurup's decision to step down from the board.

Corporate Governance Transparency

This clarification demonstrates the company's commitment to maintaining transparent communication with stakeholders and regulatory compliance. The formal communication to BSE Limited ensures that all material information regarding board changes is properly documented and disclosed in accordance with SEBI regulations.

The Amalgamated Electricity Company Limited, incorporated in 1936 and headquartered in Mumbai, continues to maintain its regulatory obligations while managing board transitions in line with corporate governance best practices.

Amalgamated Electricity Company Limited has formally acknowledged the resignation of Ms. Aradhana Kurup from her position as Independent Director through a board meeting held on January 14, 2026. The company informed the Bombay Stock Exchange about both the resignation and the board meeting outcome under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Ms. Aradhana Kurup, holding Director Identification Number 07957633, served as an Independent Director and Woman Director on the company's board. Her resignation became effective at the closure of business hours on January 13, 2026, marking the end of her tenure with the Mumbai-based electrical company.

Board Meeting Outcome

The Board of Directors convened on January 14, 2026, from 03:10 p.m. to 04:10 p.m. (IST) to formally address Ms. Kurup's resignation. During the meeting, the board noted her resignation as Independent Director with effect from the closure of business hours on January 13, 2026, citing professional commitments as the reason for her departure.

Resignation Letter Highlights

In her formal resignation letter dated January 13, 2026, Ms. Kurup cited personal and professional commitments as the primary reason for stepping down from her directorial role. She expressed appreciation for the opportunity to serve on the board, describing her tenure as a "pleasant and valuable learning experience."

Ms. Kurup acknowledged the cooperation and professionalism extended to her during her service period. Notably, she indicated her willingness to collaborate with the company in the future, stating she would be "open to working with the Company in the future in a more suitable capacity" where she could contribute greater value to the organization.

Board Appreciation and Regulatory Compliance

The Board of Directors and Management formally placed on record their deep appreciation for the invaluable contributions rendered by Ms. Aradhana Kurup during her tenure as Independent Director. The company has fulfilled its disclosure obligations by providing detailed information pursuant to Regulation 30 of the SEBI Listing Regulations.

Company Secretary Gaurav Sakpal signed the official communication to the stock exchange, ensuring compliance with all necessary regulatory requirements. The company has committed to filing all necessary forms and compliances as required under the Companies Act, 2013 and other relevant regulations. This board change represents a routine corporate governance matter handled in accordance with established regulatory frameworks.