Kranti Industries Limited announced the resignation of Mr. Prakash Vasant Kamat from his position as Non-Executive Independent Director, effective from the close of business hours on November 11, 2025. This development comes as Mr. Kamat reaches the age of 75 and completes his second consecutive term as an Independent Director.

Resignation Details

The resignation aligns with the regulatory requirements set forth in Section 149(11) of the Companies Act, 2013 and Regulation 17(1A) of SEBI Listing Regulations. Mr. Kamat cited his desire to devote more time to personal and professional commitments as the reason for his departure.

Board's Response

The Board of Kranti Industries Limited has acknowledged Mr. Kamat's valuable guidance and significant contributions during his tenure. The company's official statement expressed sincere appreciation for his dedicated service and the insights he brought to the Board.

Regulatory Compliance

In accordance with regulatory requirements, Kranti Industries has provided the following details regarding the resignation:

Next Steps

The company has announced that Mr. Kamat's resignation letter will be placed before the Board and Committee Meetings scheduled for November 14, 2025, for noting and approval. This process ensures transparency and proper documentation of the change in board composition.

Kranti Industries Limited has complied with the necessary disclosure requirements under SEBI regulations, including the submission of detailed information as per the recent SEBI Master Circular dated November 11, 2024.

As the company transitions through this change in its board composition, stakeholders will be observing any potential impacts on the company's governance structure and future strategic decisions.

Kranti Industries Limited has successfully appealed against a penalty imposed under the Goods and Services Tax (GST) Act, resulting in a significant refund. The company announced that it has received a favorable Final Appellate Order from the Deputy Commissioner of State Tax in Vadodara, Gujarat.

Background of the Case

The case stemmed from an inadvertent clerical error in which an incorrect vehicle number was mentioned on an E-Way Bill. This led to the interception of the vehicle by a Gujarat State Tax Officer, resulting in a penalty of ₹11.11 lakh under Section 129(3) of the GST Act, 2017.

Appeal Outcome

The Deputy State Tax Commissioner has confirmed in the Final Order that the error was indeed clerical in nature. As a result:

• Kranti Industries will receive a refund of ₹11.01 lakh
• A reduced penalty of ₹10,000 will be deducted from the original amount

Financial Impact

The company has stated that this development has no material impact on its financials, operations, or other activities. Kranti Industries received the order copy on November 10, 2025.

Disclosure Details

As per regulatory requirements, Kranti Industries has provided the following information:

This case highlights the importance of accuracy in GST documentation and the potential for resolution through proper appeals processes in cases of clerical errors. It also demonstrates the regulatory compliance of Kranti Industries in promptly disclosing such developments to its stakeholders.