One Mobikwik Systems Limited announces a leadership change

Committee memberships: The resignation filing does not identify any committee assignments. It confirms that Raghu Ram Hiremagalur Venkatesh resigned as an Independent Director effective 18 September 2026, citing personal reasons and no other material reasons, but it does not state whether he served on the Audit Committee, Nomination & Remuneration Committee, Stakeholders’ Relationship Committee, Risk Management Committee, or any other committee. ^[1] The board listing also identifies him only as a Non-Executive Independent Director and provides no committee mapping. ^[2]

Independent Director representation: On the latest board roster available before the resignation, the company had four Independent Directors—Punita Kumar Sinha, Raghu Ram Hiremagalur Venkatesh, Navdeep Singh Suri and Radhakrishna Nair—within a seven-member director board comprising these four, Bipin Singh, Upasana Rupkrishan Taku and nominee director Vineet Bansal. ^[2]

After removing Raghu:

• Independent Directors: 3
• Total directors: 6
• Independent representation: 50.00%, derived from 3 ÷ 6 using the board roster and resignation effective date. ^{[1] [2]}

That headcount would satisfy the minimum SEBI LODR representation test, including the stricter one-half threshold, assuming no other director changes occurred and all other board classifications remain unchanged. The conclusion is conditional: the materials do not include a post-resignation exchange filing confirming the revised board composition or committee reconstitution. They also do not establish which committee vacancies, if any, were created by his departure.

The resignation letter does not cite any specific disagreement, governance concern, or other material issue. It states that there were “no other material reasons” for the resignation beyond the reason already stated in the letter. ^[1]

The tenure comparison cannot be calculated from the cited exchange filing. The filing identifies Raghu Ram Hiremagalur Venkatesh’s resignation dated 18 September 2026, but does not provide his appointment date or the appointment dates and tenures of the remaining Independent Directors. ^[1] Accordingly, neither his tenure nor the average tenure of the continuing Independent Directors is reported in the available disclosure.

The available disclosures do not establish a reliable post-IPO resignation count. They show that the board had four Independent Directors as of 31 March 2025—Punita Kumar Sinha, Sayali Karanjkar, Navdeep Singh Suri and Raghu Ram Hiremagalur Venkatesh—and that all four were reappointed for three-year terms beginning 7 July 2024. ^[3]

A later board listing includes Radhakrishnan Nair, appointed from 16 December 2025, but it does not state that any Independent Director resigned or identify the vacancy being filled. ^[4] The separate report on Navdeep Singh Suri’s appointment as Board Chairperson also does not describe a resignation. ^[5]

Accordingly:

• Independent Directors confirmed as resigned since the IPO: Not determinable from the cited disclosures.
• Timeline for filling the vacancy: Not disclosed in the cited material.
• Process for ensuring board continuity: The only process described is the general practice that directors are nominated by the Nomination and Remuneration Committee and approved by shareholders; this is not identified as the company’s specific vacancy-filling timeline. ^[2]

The latest Corporate Governance Report itself is not present in the cited material, so attributing a specific resignation count or statutory timeline to that report would be unsupported.