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.
Awaiting price reaction for this filing.
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.