Dredging Corporation of India Limited has notified stock exchanges regarding the extension of Dr. M. Angamuthu's tenure as Chairman (Additional Charge) of Visakhapatnam Port Authority. The company filed this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Initial Appointment Details

Dr. Madhaiyaan Angamuthu, IAS (AM-2002), who serves as Chairperson of Mumbai Port Authority, was initially entrusted with the additional charge of Chairman, Visakhapatnam Port Authority on September 22, 2025. The original appointment was for six months or until the appointment of a regular chairperson, whichever was earlier.

Tenure Extension Announcement

The Ministry of Ports, Shipping and Waterways has now extended Dr. Angamuthu's additional charge for a further period of six months beyond March 21, 2026. The extension order, numbered A-12022/8/2025-PE-I and dated March 17, 2026, specifies that the tenure will continue until the appointment of a regular chairperson or until further orders, whichever is earliest.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Limited and Bombay Stock Exchange Limited about this development. The notification was made through the company secretary, P. Chandra Kalabhinetri, ensuring compliance with listing regulations.

Administrative Framework

The office order indicates that the extension is made in anticipation of approval from the Appointments Committee of Cabinet (ACC). The order has been distributed to various stakeholders including the Deputy Chairperson of Visakhapatnam Port Authority and multiple officials within the Ministry of Ports, Shipping and Waterways.

This administrative arrangement ensures continuity in the leadership of Visakhapatnam Port Authority while the process for appointing a regular chairperson continues. The dual responsibility allows Dr. Angamuthu to oversee operations at both Mumbai Port Authority and Visakhapatnam Port Authority during this transitional period.

Dredging Corporation of India Limited has announced a significant leadership appointment, naming Capt. S. Divakar as Managing Director & Chief Executive Officer. The appointment was approved by the company's Nomination and Remuneration Committee and Board of Directors during their meeting held on 23.03.2026, with the appointment taking effect from 25.03.2026.

Appointment Details

Capt. Divakar has been designated as Managing Director & Chief Executive Officer with additional responsibilities as Additional Director – Executive & Non-Independent and Key Managerial Personnel (KMP) of the company. His appointment follows the regulatory framework under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tenure and Approval Process

The appointment structure follows a phased approach. Capt. Divakar will initially serve as Additional Director until the date of the next General Meeting, which must be convened within three months from the Board's approval date. At this General Meeting, the company will seek shareholder approval for his regular appointment as Non-Independent & Executive Director.

His tenure as regular director will continue until he attains the age of 60 years or until further orders, whichever occurs earlier. This arrangement ensures compliance with corporate governance requirements while providing leadership continuity.

Professional Background and Experience

Capt. S. Divakar brings extensive industry expertise to his new role, with 38 years of comprehensive experience in the dredging sector. His career trajectory demonstrates a unique combination of operational and management capabilities.

Additional Directorships and Regulatory Compliance

Capt. Divakar currently serves as Director of Sethusamudram Corporation Limited, demonstrating his involvement in related maritime and infrastructure development activities. This experience adds to his understanding of the broader dredging and marine infrastructure sector.

The appointment notification has been formally communicated to both Bombay Stock Exchange Limited and The National Stock Exchange of India Ltd. in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. Company Secretary P. Chandra Kalabhinetri has ensured full regulatory compliance and transparency with stakeholders through proper documentation and filing procedures.