Removal of Mr. Anil (DIN : 09331597) 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.
Awaiting price reaction for this filing.
At an Extraordinary General Meeting held on December 31, 2025 — called by requisitionists under Section 100(4) of the Companies Act — shareholders approved a complete overhaul of the board. Three existing directors (Ms. Asha Mitta, Mr. Anil, and Ms. Hannah Priyadarshini) were removed, and three new directors (Mr. Kantheti Phanindra Varma, Mr. Madhu Mohan Avalur, and Mr. Venkata Satya Subrahmanyam Mukkavalli) were appointed, all effective the same day. The stated reason was that 'shareholders have lost confidence in the Board of Directors,' indicating this was a hostile/activist-driven board change rather than a routine transition. Mr. Avalur, one of the newly appointed directors, signed off on the disclosure itself. The company is a small BSE-listed entity (scrip code 538919) with registered office in Hyderabad.
This is a significant governance event that signals internal turmoil and shareholder unrest. Investors should expect heightened volatility and uncertainty around strategy and management continuity until the new board establishes direction.