Appointment of Mr. Madhu Mohan Avalur (DIN: 05201903) as a Director of the Company
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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At an Extraordinary General Meeting held on December 31, 2025, called by requisitionists under Section 100(4) of the Companies Act, shareholders voted to remove three existing directors — Ms. Asha Mitta, Mr. Anil, and Ms. Hannah Priyadarshini — and appoint three new directors: Mr. Kantheti Phanindra Varma, Mr. Madhu Mohan Avalur, and Mr. Venkata Satya Subrahmanyam Mukkavalli. The stated reason for all changes was that 'shareholders have lost confidence on the Board of Directors' of the company. All three new appointees come with 20–30 years of experience in technology, entrepreneurship/investing, and supply chain/financial advisory respectively. None of the incoming directors are debarred by SEBI or any other authority, and no inter-director relationships were disclosed.
This is a significant governance event — a group of shareholders successfully requisitioned an EGM and replaced the entire board, signalling open conflict and loss of confidence in the previous management. Retail investors should expect near-term volatility and uncertainty around strategy until the new board settles in.