The New India Assurance Company Ltd. has officially informed the stock exchanges regarding the cessation of Ms. Akani Devi’s tenure as a part-time non-official Director (Woman Independent Director). Her term ended effective at the close of office hours on March 23, 2026. This cessation follows an earlier order from the Ministry of Finance, dated March 24, 2023, which had originally appointed her for a period of three years.
Formal Notification of Director Cessation
The New India Assurance Company Limited issued a formal communication to the BSE Limited and the National Stock Exchange of India Ltd. on 23rd March, 2026, regarding a change in its Board composition. The subject of the announcement was the cessation of Ms. Akani Devi from her position as a part-time non-official Director, specifically noted as a Woman Independent Director.
Effective Date of Cessation
The company confirmed that the tenure of Ms. Akani Devi on the Board ceased effective from the close of office hours on 23.03.2026. This termination is noted to be in accordance with Order No. F.no. A-11011/12/2022-Ins.I, which was dated 24.03.2023.
Background of Appointment
The order referencing the original appointment, issued by the Government of India, Ministry of Finance, Department of Financial Services, was dated 24th March, 2023. This order conveyed the Central Government’s approval for the appointment of Ms. Akani Devi as a part-time non-official Director for an initial period of three years, or until further orders, whichever was earlier. The cessation on March 23, 2026, aligns with the conclusion of this stipulated three-year term.
Compliance and Record Keeping
The Company Secretary, Abhishek Pagaria, signed the filing to ensure compliance, requesting the respective stock exchanges to take the cessation on their records promptly.
Source: BSE
