Board approves AGM notice, new defence subsidiary, director resigns
MICEL · price
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MIC Electronics Board approved the 38th AGM notice for September 16, 2026, with record date September 10, 2026 and book closure from September 11 to 16. Independent Director Mr. Ravinder Reddy Surakanti resigned citing personal and professional commitments. Board committees were reconstituted. A wholly owned subsidiary will be incorporated for defence-related activities including manufacturing, supply of equipment, technology and services, with an initial investment of up to ₹10 lakhs. Incorporation is expected within 60 days.
Routine AGM and governance updates; new defence subsidiary diversifies business at minimal capital cost. Director exit is due to personal reasons with no material concern flagged.