Removal of Ms. Hannah Priyadarshini (DIN : 10103528) as a director of the company
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At an Extraordinary General Meeting (EGM) held on December 31, 2025, called by shareholder requisitionists under Section 100(4) of the Companies Act, three directors — Asha Mitta, Anil, and Hannah Priyadarshini — were removed, and three new directors — Kantheti Phanindra Varma, Madhu Mohan Avalur, and Venkata Satya Subrahmanyam Mukkavalli — were appointed. The stated reason for the board overhaul was that shareholders had lost confidence in the existing Board of Directors. The EGM was requisitioned by shareholders rather than called by the board itself, indicating a hostile governance intervention. All changes are effective from December 31, 2025.
This is a major governance shake-up driven by dissident shareholders, signalling serious dissatisfaction with the previous board and potentially shifting control of the company. Retail investors should view this as a high-risk governance event with possible volatility ahead as the new board settles in and strategic direction is clarified.