Intimation under regulation 30 of SEBI Listing Regulations
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▲ 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 accepted the resignation of Mr. Manish Modi as Chairman & Managing Director effective May 30, 2025, and immediately re-appointed him as Additional Director designated as Chairman & Managing Director for 5 years (till May 30, 2030), with remuneration fixed for 3 years. The company explains this was a procedural step — its earlier MR-2 application to the Central Government (filed in November 2023 for Manish Modi's prior 2023 re-appointment) was rejected because of a delay caused by technical issues during the MCA portal's migration to version 3. The resign-and-re-appoint route enables a fresh government application. Separately, Ms. Kavita Rani was re-appointed as Non-Executive Independent Director for another 5-year term from July 31, 2025, and Ranjeet Verma & Associates was appointed as Secretarial Auditor for FY 2025-26 to FY 2029-30. All items remain subject to shareholder approval at the upcoming AGM.
No real leadership change — Mr. Manish Modi continues as CMD, so operational continuity is unaffected. However, the rejection of the earlier MR-2 application by the Central Government due to filing delays (blamed on MCA portal migration issues) is a minor governance red flag worth monitoring for shareholders, as it could lead to further regulatory scrutiny if approvals are delayed again.