MedPlus Appoints Directors, Re-appoints MD

MedPlus Health Services Limited has announced key leadership changes following its board meeting on May 20, 2026. The board approved the appointment of two Non-Executive Independent Directors and the re-appointment of the Managing Director, all subject to shareholder approval.

Board Appointments

Based on the recommendation of the Nomination and Remuneration Committee, the board appointed Mr. Ajit Pandurang Rangnekar and Mr. Mohankrishna Reddy Arvabumi as Additional Directors designated as Non-Executive Independent Directors. Their appointments are effective May 20, 2026, for a first term of five years.

Mr. Rangnekar brings over 50 years of experience across manufacturing, services, and consulting, while Mr. Arvabumi offers over three decades of expertise in finance and strategy, having held senior roles at institutions like Indian Bank and ANZ Grindlays Bank.

Managing Director Re-appointment

The board approved the re-appointment of Mr. Gangadi Madhukar Reddy as Managing Director for a period of five years commencing August 03, 2026. A promoter of the company, Mr. Reddy has been associated with MedPlus since its inception and holds an MBA from The Wharton School.

Director	Designation	Term Start	Duration
Mr. Ajit Pandurang Rangnekar	Non-Executive Independent Director	May 20, 2026	5 Years
Mr. Mohankrishna Reddy Arvabumi	Non-Executive Independent Director	May 20, 2026	5 Years
Mr. Gangadi Madhukar Reddy	Managing Director	August 03, 2026	5 Years

The company affirmed that none of the appointed directors are debarred from holding the office of director by any SEBI order or other authority.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.73%	+7.23%	+9.67%	+22.08%	+8.87%	-14.92%

MedPlus Health Services has disclosed that its subsidiary, Optival Health Solutions Private Limited, has received an additional suspension order for a drug license at a store in Telangana. This follows previous regulatory actions reported in Maharashtra, Telangana, Karnataka, and Delhi. The latest update, dated May 16, 2026, involves a three-day suspension for a store in Mallapur, Telangana. The disclosures were made pursuant to Regulation 30 read with Para A Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Drug License Suspension Details

The regulatory actions now span eight separate stores across four states, each involving a suspension of the drug license under Rule 65 of the Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945. The following table summarises the key details of all regulatory actions as disclosed by the company:

Parameter:	Store 1	Store 2	Store 3	Store 4	Store 5	Store 6	Store 7	Store 8
Authority:	Asst. Commissioner & Licensing Authority, FDA, MH, Nashik	Assistant Director, DCA, Nizamabad, Telangana	Assistant Director, DCA, Bidar Circle, Karnataka	Assistant Director, DCA, F-17, Karkardooma, Delhi	Assistant Director, DCA, Bangalore circle-2, Karnataka	Assistant Director, DCA, Chikkamagalur Circle, Karnataka	Assistant Director, DCA, Hospet Circle, Vijaynagar, Karnataka	Assistant Director, Drugs Control Administration, Shameerpet, Telangana
Nature of Action:	Suspension for five days	Suspension for one day	Suspension for one day	Suspension for one day	Suspension for three days	Suspension for two days	Suspension for two days	Suspension for three days
Store Location:	Samta Nagar, Nashik, Maharashtra	Metpally Road Armoor, Telangana	Shivnagar Bidar, Karnataka	Gopal Nagar, New Delhi	Kalidasa Layout, Karnataka	Mg Road Chikkamagaluru, Karnataka	Basaveshwara Nagar, Karnataka	Mallapur, Telangana
Date of Receipt of Order:	May 06, 2026	May 08, 2026	Not specified	May 10, 2026	May 11, 2026	Not specified	May 12, 2026	May 15, 2026
Violation:	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Rules, 1945	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Rules, 1945	Not specified	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Rules, 1945	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Rules, 1945	Not specified	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945	Under Rule 65 of Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945
Potential Revenue Loss:	Rs 0.75 lacs	Rs 0.09 lacs	Rs 0.15 lacs	Rs 0.30 lacs	Rs 0.64 lacs	Rs 2.07 lacs	Rs 0.76 lacs	Rs 2.49 lacs

Regulatory and Financial Impact

The latest update includes a three-day suspension for a store at Mallapur, Telangana, ordered by the Assistant Director, Drugs Control Administration, Shameerpet, Telangana. This action results in a potential revenue loss of Rs 2.49 lacs. The total potential revenue loss across all reported suspensions now amounts to Rs 7.25 lacs.

The disclosures were made by Manoj Kumar Srivastava, Company Secretary & Compliance Officer of MedPlus Health Services. The details of these regulatory actions are available on the company's website at www.medplusindia.com , as well as on the websites of BSE Limited and the National Stock Exchange of India Limited.