IREDA has announced the completion of tenure for two Independent Directors, marking a significant change in its board composition. The company informed stock exchanges about this development through a formal communication dated March 06, 2026.

Directors Completing Tenure

The renewable energy financing company disclosed that two Part-time Non-Official Independent Directors have completed their tenure:

Regulatory Compliance

The tenure completion was executed in accordance with the Ministry of New and Renewable Energy Order dated March 06, 2023. IREDA has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company submitted detailed disclosures to both the National Stock Exchange of India Limited and BSE Limited, providing comprehensive information about the directorial changes as required under SEBI Master Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Corporate Communication

The formal intimation was signed by Ekta Madan, Company Secretary and Compliance Officer of IREDA. The communication included all necessary annexures detailing the changes in directorship as mandated by regulatory requirements.

This development represents a routine corporate governance matter as the directors completed their designated tenure period as per the original appointment terms established by the Ministry of New and Renewable Energy.

IREDA has announced significant organizational changes following a Board of Directors meeting held on March 02, 2026. The restructuring involves key management personnel designations and senior management changes as part of the company's evolving organizational structure.

Key Management Personnel Changes

The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, has designated Shri Tusar Kant Parida as a Key Managerial Personnel of the company effective March 02, 2026. Parida, who serves as Executive Director (F&A) and Head of Resource Group (including ALM), replaces Shri Amit Goel in this capacity.

Shri Tusar Kant Parida brings substantial experience to his enhanced role, holding a Bachelor's degree in Commerce (Honours) from Utkal University and membership in the Institute of Chartered Accountants of India. He possesses over 24 years of professional experience and currently works as Executive Director (F&A) at IREDA.

Role Transition and Continuity

Shri Amit Goel, while stepping down as Key Managerial Personnel, will continue serving the organization in a strategic capacity. He has been appointed to head the "Business Development & Corporate Strategy Group" and will maintain his status as Senior Management Personnel of the company.

Senior Management Personnel Changes

As part of the organizational restructuring, six individuals ceased to be Senior Management Personnel effective March 02, 2026, pursuant to the company's "Policy on Diversity of the Board; Criteria for appointing Senior Management Personnel (SMP); Remuneration to Directors, Key Managerial Personnels (KMPs) & Other Employees and Criteria for Evaluation of Directors."

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was communicated to both the National Stock Exchange of India Limited and BSE Limited, ensuring full regulatory compliance for the organizational changes.

These structural modifications reflect IREDA's ongoing efforts to optimize its organizational framework and align management responsibilities with strategic objectives in the renewable energy sector.