Tasty Dairy Specialities Company Secretary Resigns During Insolvency Process
Mr. Shamshad Alam (ACS: 66754) has resigned as Company Secretary and Compliance Officer of Tasty Dairy Specialities Limited, effective December 15, 2025. The resignation, citing personal reasons, comes while the company is undergoing Corporate Insolvency Resolution Process (CIRP). Mr. Alam mentioned practical constraints in discharging duties under the new management structure and a family medical emergency as factors. Despite resigning, he is expected to continue assisting with CIRP-related matters until its completion.
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Tasty Dairy Specialities Limited has announced the resignation of its Company Secretary and Compliance Officer, Mr. Shamshad Alam (ACS: 66754), effective December 15, 2025. The resignation was submitted on November 15, 2025, citing personal reasons as the primary factor for his departure.
Resignation Details
Mr. Alam will be relieved from his responsibilities with effect from the close of business hours on December 15, 2025. As a Key Managerial Personnel under Section 203 of the Companies Act, 2013, his cessation will also affect his role in determining the materiality of events or transactions for required disclosures to the Stock Exchange.
| Parameter | Details |
|---|---|
| Name | Mr. Shamshad Alam |
| Designation | Company Secretary & Compliance Officer |
| ACS Number | 66754 |
| Resignation Date | November 15, 2025 |
| Effective Date | December 15, 2025 |
| Reason | Personal reasons |
Corporate Insolvency Resolution Process Context
The resignation occurs while Tasty Dairy Specialities Limited is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The company's affairs, business, and assets are currently being managed by Resolution Professional Mr. Anish Agarwal (IP Registration No.: IBBI/IPA-001/IP-P-01497/2018-2019/12256) following an order dated October 07, 2025.
In his resignation letter, Mr. Alam mentioned that the company's admission into CIRP on October 07, 2025, resulted in management control vesting with the Resolution Professional. He cited practical constraints in continuing to discharge his duties effectively under the changed management structure, along with a medical emergency in his family as reasons for his resignation.
Ongoing Responsibilities and Compliance Requirements
Despite the resignation, the company has clarified that Mr. Alam's statutory, fiduciary, and professional responsibilities related to the CIRP will continue until its completion. The Resolution Professional expects his full cooperation and assistance in all present and future CIRP-related matters, including:
- Regulatory compliances
- Statutory filings
- Clarifications and records maintenance
- Legal proceedings as required
The company has stated that any non-cooperation or failure to provide requisite assistance during the CIRP may result in appropriate proceedings, including filing an application before the National Company Law Tribunal under Section 19(2) of the Insolvency and Bankruptcy Code, 2016.
Regulatory Disclosure
The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no material reasons for the resignation other than the personal reasons mentioned. Mr. Alam has assured that he discharged his duties diligently and to the best of his ability based on the information and records available to him, and has committed to extending full cooperation for the smooth handover of all records and information pertaining to statutory and exchange compliances.
Historical Stock Returns for Tasty Dairy Specialities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -1.10% | -11.81% | -29.77% | -45.85% | -73.49% |
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