New Delhi, India: RITES Limited (NSE: RITES | BSE: 541556), a Government of India enterprise and leading transport infrastructure consultancy firm, has formally notified the National Stock Exchange of India and BSE Limited regarding the cessation of Likha Togu as an Independent Director.
The company stated that Togu’s tenure will conclude on April 14, 2026, and he will officially cease to hold office effective April 15, 2026.
Regulatory Disclosure
The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates timely disclosure of material corporate events by listed companies.
The filing was submitted to both exchanges and signed by Nikhil Agarwal, Company Secretary & Compliance Officer.
Background of Appointment
Likha Togu was initially appointed as an Additional Director (Independent Director) on the Board of RITES Limited for a one-year term beginning April 15, 2025.
Key milestones in his appointment include:
- Approval by the Board on April 17, 2025
- Appointment based on an order from the Ministry of Railways dated April 15, 2025
- Shareholder approval at the 51st Annual General Meeting held on September 23, 2025
With the completion of the original tenure, his directorship has ended as per the agreed terms.
Reason for Cessation
According to the company’s regulatory filing:
- The cessation is solely due to completion of tenure
- There are no additional reasons, such as resignation or removal
This clarification reinforces that the transition is routine and procedural in nature.
Updated Board Composition
Following this development, the Board of RITES Limited will comprise:
- Rahul Mithal – Chairman & Managing Director
- Deepak Tripathi – Director (Technical)
- Krishna Gopal Agarwal – Director (Finance)
- Prem Singh Meena – Director (Projects)
- Jayant Kumar – Government Nominee Director
- Vinod Kumar – Government Nominee Director
- Rajbir Sharma – Independent Director
- Dineshananda Goswami – Independent Director
Implications for Investors
The company emphasized that this change represents a routine board transition and does not indicate any governance or operational concerns.
- No resignation or forced removal involved
- No adverse disclosures or compliance issues reported
- No immediate impact on business operations expected
Investors are likely to view this as a standard corporate governance update aligned with regulatory requirements.
About RITES Limited
RITES Limited is a Government of India-owned enterprise specializing in transport infrastructure consultancy and engineering services. The company operates across sectors including:
- Railways
- Highways
- Ports
- Urban transport systems
It continues to maintain strong compliance with regulatory frameworks and corporate governance standards in India.