Indo Count Industries Limited has informed that the prolonged absence of Mr. Kailash R. Lalpuria, Executive Director & CEO (DIN: 00059758) of the Company from attending the Board Meeting has attracted the provision of Section 167(1)(b) of the Companies Act, 2013, which, inter alia , says that the office of a director shall become vacant if he absents himself from all the meetings of the Board of Directors held during a period of twelve months with or without seeking leave of absence of the Board. Please note that as per the foregoing provision, the office of Mr. Kailash R. Lalpuria as Director of the Company has automatically got vacated with immediate effect i.e. 11th February 2026 as he has failed to attend any meeting of the Board of Directors of the Company held during a period of twelve months owing to health-related reasons
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Indo Count Industries has informed that the office of Mr. Kailash R. Lalpuria, Executive Director & CEO, has been automatically vacated with effect from 11th February 2026. Under Section 167(1)(b) of the Companies Act, 2013, a director's office becomes vacant if he absents himself from all board meetings over a period of twelve months. Mr. Lalpuria did not attend any board meeting during the past 12 months due to health-related reasons. The company has disclosed this as a mandatory corporate announcement.
The CEO has ceased to be a director with immediate effect. While the exit is attributed to health reasons and not a contentious departure, the company will need to appoint a new CEO on a priority basis, and investors should watch for further updates on leadership succession.