Independent Director resigns; Board approves new defence subsidiary
MICEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Independent Director Mr. Ravinder Reddy Surakanti resigned effective July 31, 2026, citing personal and professional commitments, and confirmed no material reasons. Board also approved the FY26 Annual Report and 38th AGM notice for September 16, 2026, with September 10 fixed as the record date. Committees were reconstituted. Additionally, the Board approved incorporating a wholly owned subsidiary for defence-related activities, with an initial investment of up to Rs 10 lakh.
Routine single Independent Director exit with no governance flags raised. New defence subsidiary signals diversification intent beyond core business.