Independent Director steps down to avoid potential conflict of interest linked to her role on a major bank’s board
Shakti Pumps (India) Limited has announced the resignation of Vandana Bhagavatula from the role of Non-Executive Woman Independent Director, effective at the close of business hours on December 06, 2025. Following her resignation, she will also relinquish her position as Chairperson of the Audit Committee.
In her resignation letter, Bhagavatula highlighted that her current role as a Shareholder Director on the board of a large commercial bank could lead to a perceived or potential conflict of interest, noting the sizeable exposure Shakti Pumps has within the Indian banking system. She added that stepping down would be the most ethical course of action while serving on the board of a listed entity.
Bhagavatula joined Shakti Pumps in March 2025 and contributed to strengthening governance practices through her rich expertise in audits, taxation, compliance, and strategic advisory.
A Chartered Accountant and Information Systems Auditor with 25 years of experience, she previously served as Proprietor of VB & Associates, Director at Aneja Associates, and held a senior compliance leadership role at HDFC Bank. She currently works as an independent consultant, specialising in financial audits, regulatory compliance, and business strategy.
Bhagavatula also serves as a Shareholder Director on the Board of Punjab National Bank (PNB), where she is Chairperson of the Stakeholders Relationship Committee and the Audit Committee of the Board, and a member of several key governance committees including Risk Management, Nomination and Remuneration, IT Strategy, Customer Service, HR Steering, Capital Raising, and the Wilful Defaulters Review Committee.
