Baazar Style Retail Limited has announced the resignation of two of its Non-Executive Independent Directors, Mrs. Richa Manoj Goyal and Mr. Prashant Singhania, effective August 20, 2026. In a move that underscores the ongoing shuffle in governance, both directors cited their existing professional commitments as the reason for stepping back from the board. The departures mark a notable moment for the retailer as it continues to navigate a growth trajectory that relies on independent oversight.
Richa Manoj Goyal, who also served as Chairperson of the Stakeholders and Relationship Committee, will cease to hold that chair role along with her directorship. Prashant Singhania, meanwhile, steps down from his role as a Non-Executive Independent Director and will no longer be a member of the Nomination and Remuneration Committee and the Corporate Social Responsibility Committee. The company states there are no material reasons for their resignations beyond those disclosed in their emails, and it has annexed their resignation letters for record.
The board’s exit door comes with a broader sense of accountability, as Goyal held a broad slate of external directorships — including roles at Acutaas Chemicals Limited, Waaree Energies Limited, Steamhouse India Limited and Bikaji Foods International Limited — with significant committee responsibilities across several entities. Singhania’s outside commitments are also highlighted by his position at Glen Industries Limited as an Independent Director and his involvement across related audit and remuneration committees. The company will be seeking suitable independent director replacements to maintain governance standards and ongoing oversight as it pursues its strategic agenda.