MOIL Limited has informed the Exchange regarding Change in Director(s) of the company.
MOIL · price
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Awaiting price reaction for this filing.
The Government of India has appointed Shri Kapil Kotecha as a Non-Official Director on the Board of MOIL Limited. The appointment is for a period of three years from the date of notification, or until further orders, whichever is earlier. The appointment will be effective from the date Shri Kotecha is allotted his Director Identification Number (DIN). The company clarified that he is not related to any existing Director or Key Managerial Personnel and is not debarred from holding office by SEBI or any other authority. MOIL Limited is a Government of India enterprise in the mining sector.
This is a routine government-driven board appointment at a PSU and is unlikely to have any material impact on the stock price or business operations. Shareholders may note continued strengthening of the board with an independent director.