Please find annexed herewith the Intimation for Change in Management of the Company pursuant to NCLT Order dated: July 04, 2024.
Awaiting price reaction for this filing.
Linaks Microelectronics has informed the stock exchange of a major board reshuffle driven by a National Company Law Tribunal (NCLT) order dated July 4, 2024. Three new directors — Mr. Shashi Shekhar Mishra, Mrs. Urvashi Mishra, and Ms. Ishu Mishra — have been appointed and will serve until the 2025 Annual General Meeting. At the same time, four directors — Mr. Jai Ram Singh, Mr. Anil Kumar Singh, Mrs. Meena Singh, and Mr. Ram Chandra Gaur — have resigned from the board. The three incoming directors are related to each other: Shashi Shekhar Mishra is the husband of Urvashi Mishra and brother of Ishu Mishra, indicating the replacement was effectively a family-led board reconstitution.
Shareholders should note that the entire board change stems from an NCLT order, which typically signals underlying insolvency or governance issues at the company. A family-led board replacement, while legally valid, may raise corporate governance concerns for minority investors.