Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company ....
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The board held a meeting on April 4, 2025, to formalise several senior-level changes already announced on March 27, 2025. Four people resigned effective March 27: Managing Director Bade Srinivas, Directors Vamsi Krishna Sripathi and B. Kavita, and CFO Borra Arun. The board appointed V. Guna Sekhar Reddy, a Chartered Accountant with over 10 years of experience, as a Non-Executive Independent Director for a five-year term. Existing director Pedinekaluva Rama Swamy Reddy, a B.Com graduate with 20+ years in finance and taxation, was appointed as the new CFO. The Audit, Nomination & Remuneration, and Shareholders Relationship committees were also reconstituted.
A near-complete overhaul of the top management and board in a single transaction raises governance questions for retail investors, even though the company has filled the key CFO role. The simultaneous exit of the MD and CFO is significant and investors should watch for clarity on the reasons and any impact on ongoing business before drawing conclusions on the stock.