Disclosure regarding inadvertent delay in renewal of term of Wholetime Director
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Ecoboard Industries Ltd has informed the BSE that the term of its Whole-Time Director, Mr. Praveen Kumar Raju Gottumukkala, expired on 31st March 2025 and was inadvertently not renewed on time. The company attributes the lapse to administrative disruptions, including the resignation and replacement of the Company Secretary and ongoing office renovation work. The Managing Director has confirmed that the omission was unintentional with no malafide intent, and the matter is now being placed before the Board for regularisation in line with the Companies Act, 2013 and SEBI LODR Regulations. The disclosure confirms the director's cessation date as 1st April 2025 and that he is not debarred by SEBI or any other authority from holding a directorship.
This is a corporate governance compliance lapse that may draw regulatory scrutiny, but the company is proactively disclosing and seeking to regularise the position, limiting likely long-term damage. Shareholders should watch for the Board's decision on reappointment, as any rejection or prolonged vacancy could affect operational continuity.