Intimation under Reg 30 of SEBI (LODR) Regulations 2015 about the resignation of Mr. Murthy Vadlamani Venkata Satyanarayana as Managing Director of the Company and Appointment of Mr. Chaganty ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Mr. Murthy Vadlamani Venkata Satyanarayana resigned as Managing Director of Colorchips New Media Ltd effective 26 May 2026, citing personal reasons and pre-occupations requiring immediate attention. He confirmed no material reasons for his departure beyond those stated. Simultaneously, the Board appointed Mr. Chaganty Ravi Shankar as the new Managing Director for a 5-year term starting 26 May 2026, subject to shareholder approval at an Extraordinary General Meeting within three months. Mr. Chaganty, aged 58, holds a B.Com degree from Andhra University and brings over 34 years of administration experience. He is not related to any existing directors and is not debarred from holding the position.
The resignation of the Managing Director and immediate appointment of a replacement suggests continuity of leadership. The new appointee's profile indicates strong administrative expertise, but shareholders will vote on his appointment at the upcoming EGM.