ABC Ltd. has 10 directors, 3 Executive Directors and promoters of the Company and one of the executive directors Mr. Prahlad is also the Chairman of the Company, 2 Non-Executive Women Directors related to Executive Direc

ABC Ltd. has 10 directors, 3 Executive Directors and promoters of the Company and one of the executive directors Mr. Prahlad is also the Chairman of the Company, 2 Non-Executive Women Directors related to Executive Directors and 5 Independent Directors. Mr. Ajay an Independent Director wants to resign from the Company due to personal reasons. In the given case is it mandatory for the Company to appoint another Independent Director ?