Vijay Kothari and V R Mehta resign as Independent Directors of T T Ltd; Stock hits new high

The current market cap of the company is Rs180.92cr.

Oct 21, 2021 12:10 IST India Infoline News Service

T T Limited has informed on Thursday that Vijay Kumar Kothari and Veerendra Raj Mehta, Independent Directors of the company resigned from the Board with immediate effect on account of personal reason.

On the resgnation, V R Mehta said, "Due to personal reasons, I am not able to continue as an independent Director of TT Ltd. I therefore tender my resignation from my Directorship of the Board of the Company effective from the conclusion of the Board and committee meetings to be held today, the 20 October 2021. Please place it before the Board for acceptance.

I thank you and all the Directors of the Board of the Company for the cooperation and consideration shown to me during my tenure."

Further, Vijay Kumar Kothari said, "The resignation is purely on account of personal reason and there are no other material reasons. I would like to convey my deep sense of appreciation and feeling of gratitude for the support I received from all the other Directors on the Board and senior executives of the Company during the period of my association with the Company.

I wish all the best to the Company. Further I request you to complete all the formalities with regard to my resignation including filing of required forms with the Ministry of Corporate Affairs and intimating to the other relevant authorities as may be required."

At around 12:09 PM, T T was trading at Rs88.50 per piece up by Rs4.35 or 5.17%, after hitting 52-week high at Rs94 per piece on Sensex.

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