Disclosure with respect to appointment/reappointment of Directors at the AGM
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
At the 49th AGM held on 29.09.2025, shareholders approved several board changes. Mr. S. Sivakumar was appointed as Managing Director for three years (till 07.08.2028) and Mr. Manoj Kumar Maurya as Whole-time Director and CFO for the same period. Mr. Adinarayana Sripathy Kumar was named Chairman and Non-Executive Director. Notably, these three appointees are all partners of Akshayam Creations LLP, indicating a closely connected group entering the board. Two Independent Directors were also appointed/reappointed: CA R. Raveendran (first term) and CS N. Srinivasan Poornima (reappointed for one year). On the audit front, the previous auditors Krishnen & Associates resigned on 13.08.2025, and SSAL & Associates (a firm established in 2021) was appointed to fill the casual vacancy and then formally appointed as statutory auditors for a five-year term covering FY 2025-26 to FY 2029-30.
The midterm exit of the previous auditor followed by appointment of a relatively new firm (SSAL, founded 2021) is worth monitoring for governance quality. The board refresh with three LLP-partner-connected directors taking key executive roles (MD, CFO, Chairman) suggests tighter promoter-group control over the company's leadership going forward.