Vineet Laboratories Limited has informed the Exchange regarding Appointment of Mr. Rajesh Kumar Kathulla (DIN: 05349717) as an Additional Director, designated as Whole Time Director of the company w.e.f. May 14, 2025.
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Vineet Laboratories Limited announced the appointment of Mr. Rajesh Kumar Kathulla (DIN: 05349717) as an Additional Director designated as Whole Time Director (Professional Category), effective May 14, 2025, for a three-year term ending May 13, 2028, subject to shareholder approval. He holds a B.Tech in Computer Science with over 10 years of experience in administration, finance, and business management, and holds 49,907 equity shares in the company. He has no relationship with any existing directors on the board. The board also approved increasing the Authorised Share Capital from ₹10.81 crore (1.08 crore equity shares of ₹10 each) to ₹20 crore (2 crore equity shares of ₹10 each), along with a corresponding amendment to the Memorandum of Association.
The appointment of a Whole Time Director with finance and business management expertise may support the company's operational and strategic execution. The near-doubling of authorised share capital signals preparation for potential future fundraising or expansion, which could lead to dilution for existing shareholders if new shares are issued later.