Twamev clarifies delayed disclosure of COO resignation
TICL · price
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On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 3.0 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The COO of Twamev Construction and Infrastructure resigned effective 31 October 2025, but the company disclosed this to the stock exchanges only on 3 July 2026, over eight months late. The company says the delay was an inadvertent error by the Compliance Officer, who was unaware that KMP resignations also need to be reported within 24 hours. The company has apologized and promised stricter internal compliance to avoid future lapses.
A delayed disclosure of a senior management exit is a governance red flag and may attract regulatory scrutiny from the exchanges.