Rama Phosphates approves reappointment of Ratneshwar Prasad as Independent Director till 2031
Mumbai: Rama Phosphates has reinforced its board with a seasoned professional for another term.
Rama Phosphates Limited confirmed that members have approved the reappointment of Ratneshwar Prasad as an Independent Director. The decision was taken through a postal ballot conducted via remote e-voting, which concluded at 5:00 p.m. on April 01, 2026. The results were formally announced on April 02, 2026, after reviewing the scrutiniser’s report.
The reappointment will be effective from May 30, 2026, and will extend until May 29, 2031, covering a full second term of five consecutive years. As outlined in Annexure A on page 2, this ensures continuity in board oversight and aligns with regulatory provisions governing independent director tenures.
Ratneshwar Prasad brings more than 38 years of experience in taxation, law, and governance. As detailed in the profile section on page 2, he began his career in the Indian Revenue Service after clearing the Civil Services Examination in 1969. Over time, he rose to key leadership roles, including Chairman of the Central Board of Direct Taxes.
During his tenure in the Income Tax Department, Prasad handled policy planning, revenue augmentation, and enforcement activities. He was involved in disposing of over 10,000 tax appeals and participated in planning and execution of around 200 group search operations. Post-retirement, he served as a founding member of the Competition Commission of India, further strengthening his governance credentials.
The company confirmed that there are no inter-se relationships between Prasad and other directors. It also clarified that he is not debarred from holding the office of director by any regulatory authority, ensuring compliance with SEBI norms and corporate governance standards.
The reappointment reflects the company’s focus on maintaining experienced leadership at the board level. By retaining a director with deep expertise in taxation and regulatory frameworks, Rama Phosphates aims to support strategic decision-making and compliance oversight. The move underscores Rama Phosphates’ emphasis on governance continuity and experienced leadership as it continues to strengthen its board structure.
