Chennai Meenakshi Multispeciality Hospital Ltd. (CMMH) has announced significant changes to its board of directors, marking a substantial restructuring of the company's leadership.

New Appointments and Restructuring

The hospital's board has approved several key appointments, subject to shareholder approval at the upcoming 35th Annual General Meeting scheduled for September 30, 2025:

• Mrs. Shama Dhilip and Mr. K. M. Mohandass have been appointed as Additional Non-Executive Independent Directors for a five-year term, effective September 3, 2025.
• Mrs. Jayanthi Radhakrishnan has been appointed as Managing Director for a five-year term, without remuneration, also effective September 3, 2025.
• Mr. Edward M. Prabhakar and Mr. Akash Prabhakar are to be regularized as Directors.
• Mr. G. Ra. Gokul and Mr. K.P. Gautham Srinivas are to be appointed as Directors.

Family Ties and Corporate Governance

The appointments reveal significant family relationships within the company's leadership:

• Mrs. Jayanthi Radhakrishnan is the daughter of the current Managing Director, Mrs. R. Gomathi.
• Mr. G. Ra. Gokul is the son of Mrs. R. Gomathi and brother of Mrs. Jayanthi Radhakrishnan.
• Mr. K.P. Gautham Srinivas is the grandson of Mrs. R. Gomathi and nephew of Mrs. Jayanthi Radhakrishnan.

These family connections highlight the continued influence of the founding family in the company's management structure.

Shareholder Notices

The company has also received notices under Section 160 of the Companies Act, 2013, from two sets of shareholders, each holding over 10% of the company's equity:

1. Mr. G. Ra. Gokul and Mrs. Abhinaya Gokul, holding 10.06% of the share capital.
2. Mr. Gautham Srinivas and Mr. Aravind Srinivas, holding 10.88% of the share capital.

These shareholders have proposed the candidature of Mr. G. Ra. Gokul and Mr. K.P. Gautham Srinivas for directorship, respectively.

Implications for Corporate Governance

The restructuring of the board, with a mix of family members and independent directors, reflects CMMH's effort to balance family control with professional management. The appointment of independent directors may enhance oversight and bring fresh perspectives to the company's governance.

As these changes are subject to shareholder approval at the upcoming Annual General Meeting, investors and stakeholders will be watching closely to see how these appointments might influence the hospital's future direction and governance practices.

The restructuring comes at a time when healthcare companies are under increased scrutiny for their governance practices, making the balance between family management and independent oversight particularly crucial for CMMH's future operations and market perception.

Chennai Meenakshi Multispeciality Hospital Limited has received notices from two significant shareholder groups proposing candidates for directorship at the upcoming 35th Annual General Meeting (AGM). This development highlights the active engagement of major shareholders in the company's governance.

Shareholder Proposals

Two shareholder groups, each holding over 10% of the company's share capital, have put forward their candidates for directorship:

1. G. Ra. Gokul and Abhinaya Gokul Group:

   • Shareholding: 751,433 shares (10.06% of share capital)
   • Proposed Candidate: Gomathi Radhakrishnan Gokul (DIN 01123161)

2. Gautham Srinivas and Aravind Srinivas Group:

   • Shareholding: 812,902 shares (10.88% of share capital)
   • Proposed Candidate: K.P. Gautham Srinivas (DIN 11104635)

Compliance with Regulatory Requirements

Both groups have adhered to the regulatory requirements by submitting the necessary deposit of Rs. 1.00 lakh each, as mandated under Section 160 of the Companies Act, 2013. This step ensures the formal consideration of their proposals at the upcoming AGM.

Board Approval and AGM Inclusion

The board of Chennai Meenakshi Multispeciality Hospital has approved both proposals. Consequently, resolutions for the appointment of these directors will be included in the notice for the 35th AGM.

Shareholder Notice Details

The LODR data provides additional insights into the notices received:

• The notices were addressed to the Board of Directors.
• Both proposed candidates, if elected, would serve as directors liable to retire by rotation.
• The company acknowledged receipt of the notices, confirming the inclusion of the resolutions in the AGM notice.

Implications for Corporate Governance

This move by major shareholders to nominate directors demonstrates an active interest in the company's leadership and governance. It also reflects the democratic process embedded in corporate governance structures, allowing significant shareholders to influence board composition.

The upcoming AGM will be a crucial event for Chennai Meenakshi Multispeciality Hospital, as shareholders will have the opportunity to vote on these directorship proposals, potentially shaping the future direction of the company's board.

Investors and stakeholders will be keenly watching the outcome of these nominations and their potential impact on the hospital's strategic direction and governance in the coming years.