Greenpanel Industries has taken steps to rectify an inadvertent omission in its regulatory filings by submitting the resignation letter of its Chief Information Officer (CIO), Jayanta Bhowmik, to the stock exchange. This move underscores the company's commitment to maintaining transparency and adhering to corporate governance standards.

Details of the Resignation

Jayanta Bhowmik's resignation from the position of CIO at Greenpanel Industries was effective from August 7, 2025. The company had previously disclosed this information to the exchanges on July 30, 2025, and August 8, 2025. However, the submission of the actual resignation letter was overlooked in these communications.

Timeline of Events

• December 26, 2022: Jayanta Bhowmik joined Greenpanel Industries
• May 29, 2025: Bhowmik submitted his resignation, citing better career opportunities
• July 30, 2025: Initial disclosure of resignation to stock exchanges
• August 7, 2025: Effective date of Bhowmik's resignation
• August 8, 2025: Second disclosure to stock exchanges

Company's Response

Greenpanel Industries emphasized that the omission of the resignation letter in previous communications was purely inadvertent. The company reaffirmed its dedication to regulatory compliance and upholding high standards of corporate governance.

Departure Process

According to the company's internal records, Jayanta Bhowmik completed a 60-day notice period following his resignation, with no shortfall in the required notice time. This orderly transition suggests a smooth handover of responsibilities within the company's information technology department.

The prompt action taken by Greenpanel Industries to address this oversight demonstrates the company's responsiveness to regulatory requirements and its commitment to keeping shareholders and the market informed of significant personnel changes within its executive ranks.

Greenpanel Industries Limited , a leading wood panel manufacturer, has announced significant management changes and received updated credit ratings, signaling a period of transition and stability for the company.

New Chief Information Officer Appointed

The company has appointed Vineet Bansal as its new Chief Information Officer (CIO), effective August 8, 2025. Bansal, who brings 29 years of experience in digital transformation and IT governance, will replace Jayanta Bhowmik, who resigned from the position citing better career opportunities.

Bansal's appointment, approved by the Board of Directors on July 30, 2025, comes with an impressive track record. His expertise spans areas such as ERP implementations, AI, cybersecurity, and infrastructure optimization. Prior to joining Greenpanel Industries, Bansal held positions at notable companies including Surya Roshni Ltd., Greenply, and Mankind Pharma.

Credit Ratings Reaffirmed

In a separate development, ICRA Limited has reaffirmed and assigned credit ratings for Greenpanel Industries' bank facilities:

The reaffirmation of the short-term rating at [ICRA]A1+ indicates a strong degree of safety regarding timely payment of financial obligations. However, the revision of the long-term rating outlook to 'Negative' from 'Stable' suggests some concerns about the company's credit profile.

Annual General Meeting Highlights

Greenpanel Industries held its 8th Annual General Meeting on August 6, 2025, where shareholders approved key resolutions:

1. Adoption of the audited financial statements for the fiscal year ended March 31, 2025.
2. Confirmation of an interim dividend of ₹0.30 per equity share for FY 2024-25.
3. Re-appointment of Mr. Shiv Prakash Mittal as a director, liable to retire by rotation.
4. Appointment of M/s. P. Sarawagi & Associates as Secretarial Auditors for a five-year term.

These developments reflect Greenpanel Industries' commitment to strengthening its management team, maintaining financial transparency, and adhering to corporate governance standards. As the company navigates through these changes, stakeholders will be keenly watching how these moves impact its operational efficiency and market position in the wood panel industry.