Edelweiss Financial Services Limited announced the resignation of Mr. Venkatachalam Ramaswamy as Non-Executive Director and Vice Chairman, effective November 11, 2026. Concurrently, Mr. Ramaswamy and Ms. Aparna T. C. have formally requested reclassification from ‘Promoter/Promoter Group’ to the ‘Public’ category. The company will place this request before its Board for consideration.
Director Resignation and Reclassification Request
Edelweiss Financial Services Limited has informed exchanges about the resignation of Mr. Venkatachalam Ramaswamy from his roles as Non-Executive Director and Vice Chairman. The resignation is effective from November 11, 2026, with Mr. Ramaswamy citing his desire to pursue personal and professional goals.
Formal Reclassification Request
In addition to his resignation, Mr. Venkatachalam Ramaswamy, along with Ms. Aparna T. C., has submitted a formal written request for reclassification from the ‘Promoter / Promoter Group’ category to the ‘Public’ category. This request is made in accordance with Regulation 31A of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company confirmed receipt of this request on November 11, 2026.
The company stated that the reclassification request will be placed before the Board of Directors for consideration and necessary action. This process will be subject to the receipt of a No-Objection Letter from the Stock Exchanges and the approval of the Company’s Members.
Technical Issues with Communication
The company noted that earlier communications regarding both the resignation and the reclassification request experienced technical/email delivery issues. Mr. Ramaswamy’s resignation letter, though dated November 9, 2026, was officially received by the Company on November 11, 2026. Similarly, an email dated November 10, 2026, related to the reclassification request, was also not delivered promptly due to these technical issues.
Consequently, Mr. Venkatachalam Ramaswamy ceases to be a Director and Vice Chairman of the Company effective November 11, 2026.
Source: BSE
