Appointment of Secretarial Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.0 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Modipon Ltd's board, at its meeting on May 30, 2025, accepted the resignation of Mr. Manish Modi as Chairman & Managing Director and immediately re-appointed him as Additional Director designated as Chairman & Managing Director for 5 years (till May 30, 2030), with remuneration set for 3 years. The board explained this was a technical reshuffle: a prior Central Government application (Form MR-2) for his earlier appointment had been rejected due to a filing delay caused by the MCA portal migration to version 3, so a fresh application is needed. Ms. Kavita Rani was re-appointed as Non-Executive Independent Director for another 5-year term starting July 31, 2025. Ranjeet Verma & Associates, Company Secretaries based in Ghaziabad with 14+ years of experience, was appointed as Secretarial Auditor for a 5-year term covering FY 2025-26 to FY 2029-30. All appointments are subject to shareholder approval at the next AGM; the CMD re-appointment additionally needs Central Government clearance.
These are largely procedural and routine items with no change in leadership direction — Mr. Manish Modi continues as CMD, maintaining continuity. Shareholders will vote on these items at the upcoming AGM, but the moves should be neutral for the stock.