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Konndor Industries' board held a meeting on 14 June 2025 with multiple outcomes. Three new directors were appointed: Ms. Sarita Ahire and Mr. Vigil Rodrigues as Executive Directors, and Mr. Mayank Tiwari as Independent Director for a 5-year term. Two Independent Directors, Mr. Jignesh Shah and Ms. Ananya Acharya, resigned citing pre-occupation (effective 7 June and 9 June 2025 respectively). Statutory Auditors M/s. Vijay Moondra and Co. resigned, and M/s. Maitra J & Co. were appointed as new Statutory Auditors for a 5-year term. The board also approved issuing 65,00,000 Equity Warrants (face value Rs. 10 each) aggregating up to Rs. 6.5 crore on a preferential basis to 10 non-promoter/public category investors, each allotted 6,50,000 warrants.
The significant board and auditor churn raises governance concerns, though the preferential warrant issue of Rs. 6.5 crore could strengthen the company's capital base. Shareholders should monitor shareholder approvals needed for the new appointments and the eventual conversion of warrants into equity, which would dilute existing shareholdings.