Appointment of Internal auditor - M/s. Bhavesh D Shah & Co. for FY 2025-2026
Awaiting price reaction for this filing.
Kashyap Tele-Medicines Limited held a board meeting on August 14, 2025, where several significant decisions were approved. Three independent directors — Mr. Devakinandan Sharma, Mr. Mayank Khetan, and Mrs. Amrita Khetan — all resigned with immediate effect on the same day. The board appointed M/s. Bhavesh D Shah & Co. as the internal auditor for FY 2025-26 and Mrs. Rupal Patel as secretarial auditor for a five-year term starting FY 2025-26. The company also proposed changing its registered office from Mumbai to Navi Mumbai (Thane), altering its main objects, and changing its company name, all subject to shareholder approval via postal ballot. No reasons were disclosed for the independent directors' resignations.
The simultaneous exit of all three independent directors is a notable governance red flag that could raise concerns among shareholders about board stability and oversight. Combined with the proposed name change, shift in registered office, and change in main business objects, the company appears to be undergoing a strategic transformation, though the lack of disclosed reasons for the director resignations may invite scrutiny.