New Delhi, Oct 28 (PTI) Piramal Enterprises on Wednesday said three independent directors -- Keki Dadiseth, R.A.Mashelkar and Goverdhan Mehta -- have stepped down from the board of the company.

"The company, being cognizant of the imminent maximum tenure guidelines, and to ensure continued smooth functioning of the Board, has had discussions relating to succession planning for the Independent Directors," Piramal Enterprises said in a filing to BSE.

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It is in this regard that three independent directors of the Board, Keki Dadiseth,  R. A. Mashelkar and Govardhan Mehta have tendered their resignations as independent directors with effect from the close of business hours on October 28, 2020, it added.

Shares of Piramal Enterprises closed at Rs 1,282.05 on BSE, down 1.30 per cent from the previous close.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)