Modern Diagnostic & Research Centre Limited convened a Board of Directors meeting on May 13, 2026, during which several significant resolutions were considered and approved. The meeting commenced at 11:03 A.M. and concluded at 11:17 A.M., covering matters related to IPO proceeds utilization, working capital funding, and a discussion on system disruptions.

Key Resolutions Approved

The board addressed three principal agenda items during the meeting. The following table summarizes the matters considered and approved:

Extension of Net Issue Proceeds Utilization

The board approved a resolution granting an extension of time for the utilization of net issue proceeds and the completion of the project as outlined in the company's prospectus. This resolution reflects the board's intent to align project timelines with the originally stated objectives under the applicable regulatory framework.

Working Capital Allocation Under GCP

In a related resolution, the board approved the utilization of funds earmarked under the General Corporate Purpose (GCP) head for working capital requirements. This decision enables the company to deploy a portion of its raised funds toward meeting its operational funding needs.

Hardware and Software System Disruptions

As part of the any other business agenda, the board discussed faults in the company's hardware and software systems. These faults resulted in an unexpected shutdown of certain systems for a temporary period. The board noted that the affected systems were subsequently restored and recovered. The matter was discussed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring timely disclosure to stakeholders.

Regulatory Compliance

The board meeting outcome was communicated to BSE Limited in compliance with Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Devendra Singh Yadav, Managing Director (DIN: 01254395), on May 13, 2026.

Modern Diagnostic & Research Centre Limited has issued a clarification to BSE Limited regarding significant price movement in its securities, stating that the fluctuations are purely market-driven with no undisclosed information affecting the stock performance.

BSE Inquiry and Company Response

The clarification came in response to BSE's letter bearing reference number L/SURV/ONL/PV/APJ/2026-2027/3542 dated April 8, 2026, which sought explanation for the significant movement in the company's share price across exchanges. The response was submitted on April 9, 2026, by Chairman cum Managing Director Devendra Singh Yadav from the company's Gurgaon office.

Compliance and Disclosure Status

The company emphasized its adherence to regulatory requirements and transparency standards:

Management's Position on Price Movement

The management clarified that the increase in the company's scrip price is entirely due to market conditions and is absolutely market-driven. The company stated that there is no undisclosed price-sensitive information or any impending announcement or corporate action that could influence the stock's price behavior.

Regulatory Assurance

Modern Diagnostic and Research Centre Limited reaffirmed its commitment to maintaining transparency with stock exchanges. The company assured that it will continue to promptly inform exchanges of all material events, information, and actions as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The formal communication was signed by Devendra Singh Yadav, Chairman cum Managing Director (DIN: 01254395), reinforcing the company's position that the management is not connected with any price increase or decrease in the company's securities.