1. The appointment of Mr. Suryakant Gupta, Practicing Company Secretary as the Secretarial Auditor of the Company. 2. Take note of Independent Auditors Report, Secretarial Audit Report ....
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Awaiting price reaction for this filing.
Nihar Info Global's board approved several key items on August 30, 2025. Two independent directors — Mr. Jagadeeswara Reddi Rao and Mr. Juvviguntla Sundarasckhar — will resign effective September 30, 2025. To fill these vacancies, two new independent directors, Mr. Sriramula Srinivas and Mr. Umashankar Siddappa Kolhe, have been appointed effective the same date. The company also approved a 1:1 rights issue of 1,04,07,748 equity shares of Rs. 10 face value, pending shareholder approval. Additionally, the authorized share capital will be increased from Rs. 14 crore to Rs. 23 crore. Other items included approval of audit reports, Board's Report, and notice for the 31st AGM.
The simultaneous exit of two independent directors and their replacement could raise governance concerns, though continuity is maintained. The 1:1 rights issue will significantly expand the share base and may dilute existing shareholders if they do not subscribe, potentially pressuring the stock price in the short term.