Hipolin Limited has issued a clarification regarding recent changes in its board of directors. The company confirmed the resignation of Mr. Prafulla Gattani as Managing Director, citing pre-occupation as the sole reason. It also addressed the sad demise of Independent Director Mr. Umeshchandra P Mehta, which occurred on July 31, 2026. The company stated it was intimated of the demise on August 14, 2026, and promptly informed the exchange.
Clarification on Director Changes
Hipolin Limited has provided a detailed clarification concerning two significant changes within its board of directors. This follows an announcement made on August 19, 2026, concerning a change in management.
Resignation of Managing Director
The company confirmed the resignation of Mr. Prafulla Gattani, Managing Director (DIN: 00147844). The reason provided for his resignation is his pre-occupation, as detailed in his resignation letter dated August 14, 2026. Hipolin Limited stressed that there is no other reason for his departure beyond what has been stated.
Demise of Independent Director
Hipolin Limited also addressed the passing of Mr. Umeshchandra P Mehta, an Independent Director (DIN: 07027282). The company stated that Mr. Mehta’s demise occurred on July 31, 2026. Hipolin Limited received intimation of the demise on August 14, 2026, and subsequently, promptly informed the Bombay Stock Exchange (BSE) of the unfortunate event.
Disclosure Details
Information pertaining to these changes has been provided in Annexure A for Mr. Gattani’s resignation and Annexure B for Mr. Mehta’s demise, in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
