Resignation of Independent Director - Mr. Devakinandan Sharma (DIN: 07900496) w.e.f. 14-08-2025
Awaiting price reaction for this filing.
Kashyap Tele-Medicines Limited held a board meeting on August 14, 2025, that approved several major changes. All three Independent Directors — Mr. Devakinandan Sharma, Mr. Mayank Khetan, and Mrs. Amrita Khetan — resigned on the same day, leaving the board with no independent directors mentioned. The board also approved shifting the registered office from Mumbai to Navi Mumbai, proposed a change in the company's main business objects, and recommended a change in the company name, all subject to shareholder approval via postal ballot. Additionally, M/s Bhavesh D Shah & Co. was appointed as internal auditor for FY 2025-26, and Mrs. Rupal Patel was appointed as secretarial auditor for five years starting FY 2025-26. The meeting lasted only about 15 minutes (12:05 PM to 12:20 PM).
The simultaneous resignation of all three independent directors is a significant governance red flag, potentially leaving the board non-compliant with SEBI's independent director requirements. The proposed name change and shift in main business objects signal a potential pivot in business direction, which shareholders will need to approve via postal ballot.