We are hereby submitting the intimation regarding automatic vacation of the office of the additional executive director, Mrs. Kusum Lata (DIN: 06693671), and additional non-executive Independent ....
Awaiting price reaction for this filing.
Kome-On Communication Ltd has informed BSE that the offices of three directors stand automatically vacated because the company failed to obtain shareholder approval for their appointments within the timeline required under SEBI's Listing Regulations. The affected directors are Mrs. Kusum Lata (Additional Executive Director), Mr. Ajay Suresh Yadav, and Ms. Rinku Saini (both Additional Non-Executive Independent Directors), appointed between September 2024 and June 2025. Under Regulation 17(1C), shareholder approval must be obtained within three months of appointment or at the next general meeting, whichever is earlier. The company will file Form DIR-12 with the MCA to formally record the vacation of office. This points to a clear governance and compliance lapse at the board level.
Negative signal for shareholders — the company has lost three directors, including an executive director, due to its own failure to comply with basic listing rules. This raises governance concerns, may weaken the board, and could attract further regulatory scrutiny or affect investor confidence in the stock.