Intec Capital Limited has disclosed the completion of Ms. Shilpy Chopra’s tenure as an Independent Director, effective May 11, 2026. The company acknowledged an inadvertent oversight in not recording her cessation at the appropriate time, leading to her participation in board meetings thereafter. The company is relying on Section 176 of the Companies Act, 2013, to ensure past actions remain valid.
Independent Director Tenure Concluded
Intec Capital Limited has officially announced the completion of Ms. Shilpy Chopra’s term as an Independent Director. Her tenure concluded at the close of business on May 11, 2026. The Board of Directors expressed their appreciation for her contributions during her service to the company.
Oversight and Subsequent Participation
The company has informed that there was an inadvertent oversight, and the expiry of Ms. Shilpy Chopra’s tenure was not identified and acted upon promptly. Consequently, her cessation of office was not recorded within the appropriate timeline, and necessary statutory and regulatory actions were delayed.
Further, it has been noted that Ms. Shilpy Chopra participated in several Board and Committee meetings of the Company following May 11, 2026, under the bona fide belief that her directorship continued. The company is addressing this situation by considering the provisions of Section 176 of the Companies Act, 2013, which provides that acts done by a director shall not be deemed invalid due to subsequent findings of an invalid appointment or termination, subject to the act’s provisos.
Impact of Oversight
Accordingly, and subject to Section 176 of the Companies Act, 2013, and other applicable laws, the acts undertaken by Ms. Shilpy Chopra during the intervening period will not be deemed invalid due solely to the later identification and recording of her tenure’s expiry.
Source: BSE
