The Board granted in-principle approval to evaluate the Draft Scheme of Arrangement and Other Business
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The Board of Cybele Industries met on April 21, 2025 and granted in-principle approval to evaluate a Draft Scheme of Arrangement. The Board also appointed M/s. A. John Moris & Co, Chartered Accountants, as the Internal Auditor for FY 2025-26 — the firm has 30 partners and 27 branches across India. Additionally, Mrs. Anandham M, a Qualified Cost Accountant and Company Secretary with over 10 years of experience, was appointed as the new Chief Financial Officer to fill the existing vacancy. The new CFO is unrelated to any Director on the Board.
Filling the long-standing CFO vacancy and onboarding a reputed audit firm signal governance housekeeping, which is mildly positive for shareholder confidence. The Draft Scheme of Arrangement, if pursued, could lead to corporate restructuring and warrants close tracking for potential stock action.