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Sify Technologies Ltd. (NASDAQ:SIFY) (the "Company"), a leading integrated information communications technology (or ICT) Solutions, received a letter (the "Notification Letter") from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") on July 8, 2025 notifying the Company that it had regained compliance with the continued listing requirements under Nasdaq Listing Rules 5605(b)(1) and 5605(c)(2) (the "Rules"), requiring the majority of the Board to be composed of independent directors and the Audit Committee to comprise at least three independent directors, respectively.
The Company had previously notified Nasdaq on May 21, 2025, that, consequent to the resignation of Dr. Ajay Kumar from the Company's Board of Directors (the "Board"), the Company was in non-compliance with the Rules. On June 5, 2025, Nasdaq confirmed the Company's non-compliance with Nasdaq's independent director and audit committee composition requirements under the Rules.
Subsequently, on June 20, 2025, the Company appointed Dr. Ram Sewak Sharma to the Board as an independent director and a member of the Audit Committee, as disclosed in the Company's Form 6-K filed with the Securities and Exchange Commission on June 24, 2025.
The Notification Letter confirmed that the Company's appointment of Dr. Ram Sewak Sharma evidenced compliance with the Nasdaq Rules and that the matter was closed.
The Company remains listed on the Nasdaq Capital Market under the trading symbol: "SIFY".
Posted In: SIFY
