Powerica Limited disclosed on April 16, 2026 that Maheswar Sahu, an Independent Director on its board, has tendered his resignation with immediate effect citing urgent family commitments. The development also means he will cease to be a chairman or member of the board committees in which he currently serves. The company has filed the requisite disclosures alongside the resignation letter as part of its governance records.
Beyond Powerica, Sahu holds multiple Independent Director roles across other listed and non-listed entities, including Ambuja Cements Limited, Maruti Suzuki India Limited, Diamond Power Infrastructure Limited, IMP Powers Limited, FYNX Capital Limited, and 63 Moons Technologies Limited. In these roles, he has been associated with governance and oversight through various committee assignments—such as Audit, Nomination and Remuneration, Stakeholders Relationship, Risk Management, and Sustainability committees—alongside other directorship responsibilities.
The resignation underscores the ongoing evolution of board composition as Powerica pursues its strategic agenda. While the board will need to navigate this transition, the company notes that the resignation is taken with immediate effect and that there are no other material reasons cited beyond the family commitments described in the letter.