TVS Holdings Says Sasikala Varadachari Ceases as Independent Director After Tenure Ends

TVS Holdings said Sasikala Varadachari ceased to hold office as a Non-Executive Independent Director effective October 23, 2026, after completing her appointed tenure, according to ScanX. The company said she also vacated the chairperson roles of the Audit Committee and the Nomination and Remuneration Committee, along with four other committee memberships.

Varadachari's Exit and the Six Committee Roles

Varadachari, identified by DIN 07132398, concluded her role at the close of business hours on October 23, 2026, the company said. The cessation followed the completion of her appointed tenure, and the company gave no other reason for the change.

Beyond the two chairperson posts, she stepped down as a member of the Stakeholder's Relationship Committee, the Risk Management Committee, the Administrative Committee and the Asset Liability Management Committee. The company said the departures mark a shift in the composition of several oversight bodies.

TVS Holdings filed an intimation with BSE Limited and the National Stock Exchange of India Ltd. Under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, citing Para A of Part A of Schedule III. The filing was signed by R Raja Prakash, Company Secretary, on October 23, 2026. The company said no new appointment details were provided in the immediate disclosure, which focused solely on the cessation.

Revathy Iyer's Board Appointment in September

On September 23, 2026, TVS Holdings approved the appointment of Revathy Iyer as a Non-Executive Independent Director for five consecutive years, effective that date, ScanX reported. Iyer holds DIN 01952230, and the company said it would seek shareholder consent through a postal ballot under Section 110 of the Companies Act, 2013.

Independent Director Changes at Sector Peers

Veer Global Infraconstruction said Subodh Jain resigned as an independent director effective October 22, 2026, citing personal and professional commitments, ScanX reported. Unishire Urban Infra said non-executive directors Harish and Indrawati resigned on October 21, 2026, citing personal reasons, and appointed Nand Kishore Ray and Dheeraj Kumar as additional directors the same day, ScanX reported.

Bank of America appointed Jim Fitterling and Bill Thomas to its board of directors, effective immediately, with Fitterling previously leading Dow and Thomas leading KPMG, Reuters reported. They replace retired directors Pierre de Weck and Linda Hudson.