Image Source: Whispersinthecorridors
AGS Transact Technologies Ltd. (AGST.NS) disclosed that Sudip Bandyopadhyay resigned as Non-Executive, Non-Independent Director. This represents an important shift in the board of directors' composition of the company, considering Bandyopadhyay's long history of attachment and guidance in the organization.
Sudip Bandyopadhyay, one of India's leading financial services professionals and promoter of Inditrade Capital, has been a close affiliate of AGS Transact Technologies for many years in different roles including as an Independent Director and subsequently as a Non-Executive, Non-Independent Director. His resignation marks a significant change for the company as it continues to shape its board composition.
Background on Sudip Bandyopadhyay
-
Bandyopadhyay is a veteran finance professional with experience in the top executive role at Inditrade Capital and earlier in his career as Managing Director of Destimoney Securities and a director of a number of companies of the Reliance ADA Group.
-
He is a Chartered Accountant and Cost and Works Accountant with known expertise in the financial profession.
Tenure in AGS Transact Technologies
-
Appointed initially as an Independent, Non-Executive Director in 2010, Bandyopadhyay has had two successive terms in office.
-
Upon fulfillment of his terms as Independent Director, he was appointed again as a Non-Executive, Non-Independent Director in March 2023, pending shareholders' approval.
-
He was also included in directors who were eligible for payment of commission for FY 2023-24, indicating his ongoing contribution to the company's governance until his resignation.
Resignation Details
-
The company officially declared Bandyopadhyay's resignation as Non-Executive, Non-Independent Director from the board.
-
The resignation is one in a series of board changes, with multiple other directors also finishing their terms or retiring over the past few months.
Implications for AGS Transact
Bandyopadhyay's resignation occurs at the same time that AGS Transact is very much restructuring its board, with new appointments and retirements as part of efforts to enhance governance and compliance.
The firm remains focused on its core business and strategic expansion, taking advantage of the experience of its remaining and new directors.
Sources: Moneylife, BlinkX, JM Financial (PDF), AGS India (PDF), InvestorZone
Advertisement
Advertisement
