Mtar Technologies Limited has informed the Exchange about:1. Re-appointment of Statutory Auditors subject to approval of shareholders2. Re-appoinment of Directors retiring by rotation subject to approval of shareholders3. Re- appointment of Mr. A. Praveen Kumar Reddy as the Whole Time Director subject to approval of shareholders4. Re- appointment of Mr. Anushman Reddy as the Whole Time Director subject to approval of shareholders5. Continuation of Mr. Venkatasamy Gnana Sekaran as a Non-Executive and Independent Director of the Company beyond the age of 75 years.
MTARTECH · price
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MTAR Technologies has informed the exchange of several board-level re-appointments, all pending shareholder approval at the upcoming AGM. M/s. S.R. Batliboi & Associates LLP will be re-appointed as Statutory Auditors for a second 4-year term (from the 26th AGM on 18 September 2025 till the 30th AGM in FY 2028-29). Mr. P. Srinivas Reddy (Managing Director) and Mr. Akepati Praveen Kumar Reddy will be re-appointed as Directors retiring by rotation. Mr. A. Praveen Kumar Reddy will also continue as Whole-Time Director for 3 years at Rs. 96 Lakhs p.a. plus 30% variable pay, and Mr. Anushman Reddy as Whole-Time Director for 3 years at Rs. 144 Lakhs p.a. plus 30% variable pay. Independent Director Mr. Venkatasamy Gnana Sekaran will continue on the board beyond the age of 75 years, subject to shareholder approval.
This is a routine governance announcement involving re-appointments of existing personnel rather than new appointments or exits. Shareholders will get to vote on these items at the 26th AGM; no material change in leadership or control is expected, and the stock is unlikely to see a meaningful reaction.