Amalgamated Electricity Company Limited accepted the resignation of Krishnaprasad Ramanathan as Non-Executive Independent Director effective July 8, 2026. The resignation, attributed to personal reasons, was communicated via email to the company on the same date. Ramanathan also stepped down from all board committees of the company.

The Board of Directors acknowledged his contribution during his tenure. The company submitted a revised disclosure to BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 to correct a discrepancy in the initial filing. The revised filing included specific confirmations regarding the director's other commitments and the reasons for his departure.

Ramanathan was appointed to the board on September 3, 2025. In his disclosures, he confirmed that he is not a director in any other listed company and does not hold any positions on other board committees. He also verified that there were no material reasons for his resignation other than the personal reasons stated in his resignation letter.

Key Disclosures

The intimation was signed by Aradhana Kurup, Additional Director, on behalf of Amalgamated Electricity Company Limited.

Amalgamated Electricity Company Limited has scheduled a board meeting for July 13, 2026, to consider a proposal for raising funds. The meeting, to be held via video conference at 12:00 Noon, will evaluate the issuance of equity shares and other equity-linked or convertible securities, including warrants, through a preferential issue or other permissible modes. This move aims to secure capital subject to the approval of members and statutory or regulatory authorities.

The board will also deliberate on the appointment of two new directors. Somesh Yag Ratanchand Kapai (DIN: 02461397) is proposed for appointment as an Additional Director, while Jay Nareshbhai Tillani (DIN: 11812895) is nominated for the role of Additional Non-Executive Independent Director. These appointments are part of the company's governance structure enhancements.

To facilitate the fund-raising proposal, the board intends to convene an extraordinary general meeting or initiate a postal ballot process. This step is necessary to obtain shareholder approval for the proposed issuance of securities. The company has already closed its trading window for all designated persons starting July 1, 2026, to ensure compliance with regulatory norms.

Agenda Details