Everlon Financials Limited announced the cessation of Mr. Nitin Ishwarlal Parekh as an Independent Director, effective from the close of business hours on September 16, 2026. This departure marks the completion of his second consecutive five-year term. The company expressed its gratitude for his contributions and guidance during his tenure, acknowledging his role in various board committees.
Independent Director’s Term Concludes
Everlon Financials Limited has officially notified the market regarding the cessation of Mr. Nitin Ishwarlal Parekh from his position as an Independent Director. This change is a direct result of Mr. Parekh completing his second term of five consecutive years, as stipulated by the company’s governance policies and regulatory norms. His tenure concluded at the close of business on September 16, 2026.
Board Acknowledges Contribution
The Board of Directors and the management of Everlon Financials Limited conveyed their sincere appreciation for Mr. Parekh’s valuable advice, guidance, and overall contribution during his service as an Independent Director. His departure also signifies his stepping down from any respective committees of the Board on which he served.
Disclosure Details
In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company provided details concerning this change. The reason for the cessation is cited as the completion of the second term. Mr. Parekh’s profile and any relationships between directors were noted as not applicable in this specific instance, given the nature of his departure at the end of his mandated term. The letter of resignation was also deemed not applicable as the cessation is due to the term’s completion.
Source: BSE
