outcome of the meeting held on 10.05.2025
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Nettlinx Ltd's board on May 10, 2025, accepted the resignation of Managing Director Dr. Manohar Loka Reddy, citing ongoing health issues, with effect from the same day. In his place, Mr. Rohith Loka Reddy — Dr. Reddy's son and a promoter of the company — has been appointed as the new Managing Director for a 5-year term (May 2025 to May 2030), subject to shareholder approval. The board also appointed Mr. Amarender Reddy Bandaru as a Non-Executive Independent Director and noted the resignations of Independent Director Mr. Vijaya Bhasker Reddy Maddi, Non-Executive Director Smt. Radhika Kundur, and Company Secretary Mr. Sairam Gandikota. Several board committees were reconstituted following these changes.
The change signals a promoter-family succession at the top, with the founder's son taking over as Managing Director. While continuity may provide stability, investors should note the simultaneous exit of two directors, the Managing Director, and the Company Secretary in a single board meeting, which could create short-term governance and execution risks.