Vimta Labs Limited has informed the Exchange regarding Change in Director(s) of the company.
VIMTALABS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vimta Labs Limited's Board has recommended re-appointing Dr. S. P. Vasireddi as Executive Chairman for another 5-year term (July 2026 to June 2031). This re-appointment requires shareholder approval via a special resolution at the upcoming AGM. The special resolution is needed because Dr. Vasireddi is 77 years old, as per Section 196(3)(a) of the Companies Act, 2013. Dr. Vasireddi is the Founder of the company and has been associated with Vimta Labs since inception, serving over four decades. He currently holds 51,97,050 equity shares and is the father of Ms. Harita Vasireddi, the Managing Director.
The re-appointment ensures leadership continuity at Vimta Labs under its founder. The special resolution requirement due to his age is a standard compliance matter rather than a concern. Shareholders should expect a straightforward approval at the AGM.