Appointment of Ramanuj Murlinarayan Darak as Additional Director(Non Executive Independent Director) for the Company
Awaiting price reaction for this filing.
Ace Edutrend's board met on August 28, 2025 and approved several major decisions. Rohan Agarwal, son of Mohan Agarwal, was appointed as Managing Director and Chief Finance Officer, replacing Monendra Srivastava who resigned from both positions. Ramanuj Murlinarayan Darak was appointed as an Additional Non-Executive Independent Director. The company also approved a 5x increase in authorized share capital from ₹10 crore to ₹50 crore, with plans for a further share issue (rights or other mode) up to ₹50 crore. The board also approved the launch of a new project called 'E-Shiksha' and appointed M/s Chandan Jha & Associates as Secretarial Auditor for 5 years. The 31st AGM is scheduled for September 30, 2025 via video conferencing.
The dual exit of the MD and CFO replaced by a family member (Rohan Agarwal, son of Mohan Agarwal) raises governance questions for minority shareholders. The five-fold jump in authorized capital and a planned rights issue of up to ₹50 crore signal a significant fundraising push, which may lead to dilution. Investors should watch the E-Shiksha project rollout and the rights issue terms closely.