KMG Milk Food Limited , a company listed on the Bombay Stock Exchange, has announced significant changes in its leadership structure. The company's Board of Directors has approved the removal of Non-Executive Non-Independent Director Sulekh Kumar Aggarwal and Company Secretary Santosh Kumar Rai, citing serious concerns about their performance.

Reasons for Removal

The Board cited the following reasons for the removals:

• Negligence in discharge of duties
• Failure to perform assigned responsibilities
• Persistent non-compliance with Board directions

Extraordinary General Meeting

To seek shareholder approval for the director's removal, the company has scheduled an Extraordinary General Meeting (EGM) for December 26, 2025. The e-voting period for the EGM will commence on December 23, 2025, at 9:00 AM and conclude on December 25, 2025, at 5:00 PM.

Financial Overview

While KMG Milk Food Limited undergoes these leadership changes, it's worth noting some key financial metrics based on the most recent balance sheet data:

The financial data reveals a slight decrease in total assets and current assets over the past year, while non-current liabilities have increased. The negative total equity figure indicates potential financial challenges for the company.

These leadership changes come at a time when the company's financial position appears to be under pressure. Shareholders and investors will likely be watching closely to see how these changes may impact the company's future performance and governance.

Corporate Action Alert: KMG Milk Food Limited

KMG Milk Food Limited has announced a crucial board meeting scheduled for March 15, 2024. The meeting agenda includes two significant corporate actions that could potentially impact shareholders:

1. Bonus Issue

The board will consider and approve a bonus issue of equity shares. This move could increase the number of shares held by existing shareholders without any additional cost.

2. Stock Split

A stock split is also on the agenda, which could make the shares more accessible to a broader range of investors by reducing the per-share price while increasing the number of outstanding shares.

Implications for Investors

These corporate actions, if approved, could have several implications for KMG Milk Food Limited's shareholders:

1. Increased Liquidity: Both the bonus issue and stock split can potentially improve the stock's liquidity in the market.

2. Market Perception: Such moves often signal management's confidence in the company's future prospects.

3. Wider Investor Base: A lower share price post-split might attract more retail investors.

4. No Change in Ownership Percentage: While the number of shares will increase, the proportional ownership of each shareholder remains unchanged.

What's Next?

Investors and market watchers should keep an eye on the outcome of this board meeting. Any decisions made will be subject to necessary approvals, including shareholder consent where required.

Stay tuned for updates following the March 15 board meeting for concrete details on these potential corporate actions.

Disclaimer: This news is for informational purposes only and should not be considered as investment advice. Always conduct your own research or consult with a financial advisor before making investment decisions.