Power Mech Projects Limited disclosed that Sajja Lakshmi, a Non-Executive and Non-Independent Director, has resigned from the board, effective at the close of business on August 8, 2026. The company stated that she expressed an inability to continue owing to personal pre-occupations and other unavoidable commitments.
The announcement, issued after a board meeting, framed the move as a graceful departure with the board placing on record its sincere appreciation for her guidance and contributions during her tenure. The resignation comes as the board also pushed ahead with governance refresh, re-constituting several committees and dissolving the Investment Committee.
In the same meeting, Power Mech Projects approved unaudited standalone and consolidated results for the quarter ended June 30, 2026 and moved forward with an Employee Stock Option Plan to incentivize staff, highlighting a broader push toward governance and performance alignment.
As governance structures adjust, the company remains focused on its strategic trajectory and leadership continuity, with the board likely to navigate the transition in due course.