It has been observed that Eraaya Lifespaces Ltd has failed to disclose the resignation letters of two Independent Directors namely Mr. Himanshu Mody and Mr. Vivek Dave with the Stock Exchange as required under Regulation 30 of SEBI (LODR) Regulations, 2015 inspite of various reminders.
As per Regulation 30(10) of SEBI ( LODR) Regulations, 2015 "The listed entity shall provide specific and adequate reply to all queries raised by stock exchange(s) with respect to any events or information.
Provided that the Stock Exchange(s) shall disseminate information and clarification as soon as reasonably practicable."
Non-submission of material information is a serious violation of the regulatory framework designed to ensure transparency for the Investors.
In view of the above, the Exchange is now disseminating the Resignation Letters of the abovementioned Independent Directors as received from the Company by the Exchange.