The Board has considered and approved the removal/discontinuation of Mr. Sulekh Kumar Aggarwal (DIN: 01593131) from the position of Non-Executive Non-Independent Director of the Company.The ....
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Awaiting price reaction for this filing.
The board of KMG Milk Food Ltd, at its meeting on 28 November 2025, approved the removal of two key officials. Mr. Sulekh Kumar Aggarwal, Non-Executive Non-Independent Director (appointed in April 2025), is being removed under Section 169 of the Companies Act, 2013, subject to shareholder approval at an EGM on 26 December 2025. Mr. Santosh Kumar Rai, Company Secretary & Compliance Officer (appointed in June 2025), has been removed with immediate effect. Both were in their roles for less than a year. The company will file necessary forms with the Registrar of Companies and BSE, and a scrutinizer has been appointed for the EGM e-voting process.
The simultaneous removal of a director and the compliance officer, both appointed within the last 7-8 months, signals potential internal governance or compliance issues. This could raise red flags for investors about board stability and oversight, though share price impact depends on the reasons (not disclosed) and shareholder approval at the upcoming EGM.