DCB Bank has announced the resignation of Mr. Shaffiq Mansurali Dharamshi from his position as a Non-Executive (Non-Independent) Director. The resignation is effective from the close of business hours on May 8, 2026. Mr. Dharamshi cited increased professional responsibilities and travel demands associated with his current global role as the primary reasons for his departure, confirming that the decision is unrelated to any internal governance concerns or disagreements with the bank.
Resignation Details
On May 8, 2026, DCB Bank formally notified the stock exchanges regarding the departure of Mr. Shaffiq Mansurali Dharamshi from the Board of Directors. Mr. Dharamshi served the bank as a Non-Executive (Non-Independent) Director. His resignation comes into effect immediately as of the close of business hours on the day of the announcement.
Reason for Departure
In his formal resignation letter, Mr. Dharamshi clarified that his exit is driven entirely by expanded professional commitments in his current global role. He noted that the resulting time constraints and travel demands would limit his ability to fulfill his director responsibilities to the high standards expected by the bank. Mr. Dharamshi emphasized that this was a difficult decision, particularly as he had recently commenced a second term with the institution.
Governance Confirmation
The bank and Mr. Dharamshi have both confirmed that there are no underlying governance issues, disputes, or disagreements leading to this resignation. Mr. Dharamshi expressed his gratitude for the support received during his tenure and offered his best wishes for the bank’s continued success and performance.
Source: BSE
