Star Health and Allied Insurance Company Limited announced several board-level changes following its board meeting held on June 26, 2026. The board approved the retirement of two independent directors who completed their terms, the transmission of the entire equity stake held by late Rakesh Jhunjhunwala, and consequential changes in director nominations.
Independent directors Rajeev Krishnamuralilal Agarwal and Rajni Sekhri Sibal will retire from the close of business hours on July 15, 2026, upon completion of their five-year term. The board recorded its appreciation for their contributions during their tenure.
The board approved the transmission of 8,28,82,958 equity shares held by late Rakesh Jhunjhunwala, based on the probate issued by the Bombay High Court on December 18, 2023.
Consequent to the share transmission, Utpal Sheth resigned as nominee director of late Rakesh Jhunjhunwala with effect from June 26, 2026. The resignation followed the withdrawal of nomination by the estate of late Rakesh Jhunjhunwala. Sheth served as a member of the audit committee, nomination and remuneration committee, investment committee, and other board-level committees.
Utpal Sheth was appointed as an additional director under the non-executive category, representing Sitara Partners LLP, the promoter. IRDAI approved the appointment on April 6, 2026, and it is subject to member approval at the next general meeting.
The board meeting commenced at 4:30 PM IST and concluded at 4:45 PM IST on June 26, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.