Parsvnath Developers: Independent Directors Resign Amidst CIRP
Parsvnath Developers Ltd has filed a revised intimation regarding the resignation of three independent directors: Mr. Ramesh Chand Gupta, Mr. Subhash Chander Setia, and Dr. Rakshita Shharma. The company cited delays in reporting these resignations due to its ongoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Mr. Manoj Kumar Anand, the appointed Resolution Professional, sought legal opinion on the matter, which contributed to the minor delay in informing the stock exchanges. The resignations are effective from July 14, 2026, with Mr. Gupta citing personal pre-occupations and other commitments. Revised disclosures, including letters of resignation, have been attached.
Key Highlights
- Three independent directors have resigned from Parsvnath Developers Ltd.
- Resignations are attributed to personal reasons and ongoing CIRP.
- Resolution Professional managing the company cited procedural delays.
- Revised disclosures with resignation letters have been submitted.
Price Impact
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