Outcome of the Board Meeting held today is enclosed.
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Skyline Ventures India's board on October 28, 2025 approved the resignation of Managing Director Mrs. Asha Mitta (effective October 22, 2025) citing personal reasons, and Company Secretary Ms. Srilekha Donthineni (effective October 17, 2025) who left to pursue other opportunities. Whole-time Director Mrs. Hannah Priyadarshini has been given interim charge of Compliance Officer until a new Company Secretary is appointed; no replacement MD has been named yet. The board also cancelled its contract with Verrkotech Solutions Private Limited, blaming the MD's exit and the departure of key project team members for 'project derailment,' and authorised management to recover unspent advances from vendors. Additionally, two shareholders holding 11.13% of the company have requisitioned an Extraordinary General Meeting under Section 100 of the Companies Act, and the board approved repaying long-pending dues to creditors to avoid legal action.
This is a materially negative development: the company has lost its Managing Director and Company Secretary in quick succession, faces a project collapse, an activist shareholder EGM demand, and looming creditor liabilities — raising serious governance and going-concern concerns for small retail shareholders.