Announcement under regulation 30 - Vacation of office of director under section 167 (1) (b) of Companies act, 2013
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Dharani Finance Ltd announced that Director Mr. Kolandagounder Kandasamy (DIN: 00277906) has vacated his office effective 16th May 2026, pursuant to Section 167(1)(b) of the Companies Act 2013. The vacation occurred because the director absented himself from attending Board of Directors meetings for a period of 12 consecutive months. This is a statutory deemed vacation of office rather than a voluntary resignation. The company's Managing Director, Mr. Murugavel Ramasamy, signed the announcement submitted to BSE.
This represents a governance concern as a director was absent for an extended period. The company has lost a board member, and the underlying reason (12-month non-attendance) may indicate deeper issues with board management or director engagement. No immediate impact on operations expected, but the vacancy may require board reconstitution.