Engineers India Limited Board Loses Two Independent Directors

Core Change: Two independent directors, Shri Deepak Mhaskey (DIN 09396329) and Smt. Karuna Gopal Vartakavi (DIN 05304803), have completed their terms and stepped down from the Engineers India Limited board.

Effective Date: The departures took effect on 28 March 2026.

Impacted Parties:

• Engineers India Limited – board composition and future director appointments.
• Shareholders and investors – monitoring of board changes for governance implications.
• Regulatory bodies – SEBI and the Ministry of Petroleum & Natural Gas, which oversee compliance.

Why: The exits are required to meet the mandatory tenure limits set out in Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (2015) and to comply with a Ministry of Petroleum & Natural Gas directive (letter No. CA‑31033/2/2021‑PNG). No resignation, removal, or performance issues were cited.

Key Compliance / Legal Requirements:

• Adherence to Regulation 30 mandating a minimum number of independent directors and limiting their tenure.
• Alignment with the Ministry of Petroleum & Natural Gas directive specifying board composition standards for entities in the sector.

Next Steps: Engineers India Limited will need to appoint new independent directors to maintain the required board composition and ensure continued regulatory compliance. Investors should watch forthcoming board filings for details on the replacements.